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.

The interest rate of current account is usually higher than saving account.

Which ONE of the following is an error of principle? A: A gas bill credited to gas account and debited to the bank account. B: The purchase of a non-current asset credited to the asset account at cost and debited to the payable’s account. C: The purchase of a non-current asset debited to the purchases account and credited to the payable’s account. D: The payment of wages debited and credited to the correct accounts, but using the wrong amount.

The owner's withdrawal account normally has a credit balance since it is an equity account.

A company purchase supplies £7,100 on credit. The two accounts affected by this transaction are the supplies account and the __________ account. A: