Answered: Which of the following is a…

Which of the following is a contra-asset account? a) Accounts Payable b) Accumulated Depreciation c) Sales Revenue d) Notes Payable

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter5: Professional Auditing Standards And The Audit Opinion Formulation Process

Section: Chapter Questions

Problem 17CYBK

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Question

Help me with this. Thank you

Which of the following is a contra-asset account?
a) Accounts Payable
b) Accumulated Depreciation
c) Sales Revenue
d) Notes Payable

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