Which of the Following Accounts Is a Contra-Cost Account

question 32

Multiple Choice

Which of the following accounts is a contra-cost account?

• A)Accumulated Depreciation
• B)Purchases Returns and Allowances
• C)Sales Returns and Allowances
• D)Depreciation Expense

Identify and describe the components and theorists involved in early childhood education models.

Understand the whole child concept and its implications for development.

Distinguish among various theories and their applications in real-world child and family situations.

Appreciate the role of culture and family systems in child development.

---

Definitions:

Cash Payment

A transaction in which a payment for goods or services is made using physical currency or through a digital mechanism but representing a direct transfer of funds.

Net Income

The total earnings of a company after deducting all expenses, taxes, and costs from its total revenues, indicating the company's profitability over a particular period.

Commercial Fishing Boat

A vessel used for catching fish commercially for profit, often equipped with specialized fishing gear.

New Stock

New stock refers to shares that a company issues to the public for the first time, typically through an initial public offering (IPO) to raise capital.