Contra-accounts:
A)are used to increase the original value of the account they offset.
B)always appear in the same column of the trial balance as the account they offset.
C)always reduce the account they offset.
D)Always increase the account they offset.

Question

Quizplus · Accepted Answer

Contra-accounts are used to reduce the account they offset. For example, "Bad Debt Expense" is a contra-account to "Accounts Receivable" because it reduces the value of the accounts receivable.

Contra-Accounts