In a Trial Balance a Contra-Account Appears

question 42

Multiple Choice

In a trial balance a contra-account appears:

• A)just before the account it offsets but in the opposite column.
• B)just after the account it offsets and in the same column.
• C)just after the account it offsets but in the opposite column.
• D)just before the account it offsets and in the same column.

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Definitions:

Elastic Demand

A situation in which demand for a product or service is sensitive to price changes, meaning a small change in price can lead to a significant change in quantity demanded.

Revenue Generation

The process of creating income for a business or organization through various means such as sales, services, or investments.

Lower Fares

Reduced charges for services, particularly in transportation, such as airfares or bus tickets, making travel more affordable.

Elastic Demand

A condition where the quantity demanded of a good or service changes significantly as its price changes.