Which of the following would not be classified as a contra account?
A) Sales
B) Sales Returns and Allowances
C) Accumulated Depreciation
D) Sales Discounts

Question

Quizplus · Accepted Answer

Sales is a revenue account and not a contra account. Contra accounts are used to reduce the balance of their related accounts, while revenue accounts increase the balance. Sales Returns and Allowances, Accumulated Depreciation, and Sales Discounts are all examples of contra accounts.

Which of the Following Would Not Be Classified as a Contra