An Account the Balance of Which Is Subtracted from the Balance

question 186

Multiple Choice

An account the balance of which is subtracted from the balance of a related account so that more complete information than simply the net amount is provided is a(n)

• A) Accrued expense
• B) Contra account
• C) Accrued revenue
• D) Prepaid expense
• E) Withdrawal

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Definitions:

Continental Collision

The process by which two continental plates collide, leading to the formation of mountains and other geological features.

Transform Fault

A type of fault where two tectonic plates slide past each other horizontally, commonly found at plate boundaries and associated with significant earthquake activity.

Mid-ocean Ridge

An underwater mountain range formed by plate tectonics, where new oceanic crust is created through volcanic activity.

Linear Island Chain

A sequential assembly of islands that form in a straight line, often the result of volcanic activity on the seafloor.