The Account Allowance for Uncollectible Accounts Is Classified as a Contra-Revenue

question 105

True/False

The account Allowance for Uncollectible Accounts is classified as a contra-revenue account.

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Definitions:

Epiphyseal Plate

A hyaline cartilage plate in the long bones, where lengthwise growth of the bone occurs.

Ossified

The process by which tissue turns into bone or a bony substance, often part of normal bone growth and development or healing of fractures.

Hypersecretion

The excessive production and release of substances, such as hormones or enzymes, by a gland or organ.

Adrenal Tumor

A growth, either benign or malignant, that forms in the adrenal glands, which are located above the kidneys and are responsible for hormone production, including stress hormones and sex hormones.