An account linked with another account that has an opposite normal balance and that is subtracted from the balance of the related account is a(): ____
A: Accrued expense.
B: Contra account.
C: Accrued revenue.
D: Intangible asset.
A: Accrued expense.
B: Contra account.
C: Accrued revenue.
D: Intangible asset.
B
举一反三
- What type of account is Unearned Revenue (asset, liability, stockholders’ equity, revenue, or expense) and what is its normal balance, respectively?
- The increase of revenue should be ( ). A: debited to a revenue account B: debited to a expense account C: credited to a revenue account D: credited to a expense account
- Тhе Аllоwаncе fоr Асcоuntіng Rеceivable аccount іѕ а(n) ( ) A: expense account B: liability account C: owner' s equity account D: contra asset account
- The owner's withdrawal account normally has a credit balance since it is an equity account.
- The official settlements balance or balance of payments is the sum of the current account balance and the capital account balance.
内容
- 0
A simple account form widely used in accounting as a tool to understand how debits and credits affect an account balance is called a: A: Withdrawals account. B: Capital account. C: Drawing account. D: T-account. E: Balance column sheet.
- 1
Net profit is calculated in the A: Trading account B: Profit and loss account C: Trial balance D: Balance sheet
- 2
Unearned Revenue is a ________ account and carries a ________ normal balance. A: liability; credit B: asset; credit C: revenue; debit D: asset; debit
- 3
Adjusting entries are necessary so that asset, liability, revenue, and expense account balances are correctly recorded.
- 4
An account balance is the difference between the debits and credits for an account including any beginning balance.