Asked by
brian Casper
on Nov 15, 2024
Verified
Which of the following would not be classified as a contra account?
A) Sales
B) Sales Returns
C) Accumulated Depreciation
D) Sales Discounts
Contra Account
An account used in the general ledger to reduce the value of a related account without adjusting the original account directly.
Sales Returns
Transactions where customers return previously purchased merchandise, resulting in a refund or credit.
Accumulated Depreciation
represents the total amount of depreciation expense that has been recorded for an asset since it was acquired.
- Determine the usual balance of accounts associated with managing inventory and conducting sales.
Verified Answer
BD
Learning Objectives
- Determine the usual balance of accounts associated with managing inventory and conducting sales.