Which of the Following Would Be an Example of a Contra-Asset

question 14

Multiple Choice

Which of the following would be an example of a contra-asset?

• A) Depreciation Expense
• B) Unearned Revenue
• C) Accumulated Depreciation
• D) Discount on Bonds

---

Definitions:

Economic Profits

The profit or loss calculated by taking out both straightforward and assumed expenses from total income.

Purely Competitive

A business environment marked by the proliferation of many small enterprises, a uniform product, and effortless procedures for both entry and exit.

Market Price

The ongoing rate at which a service or asset is traded in a particular market.

Monopoly

A market structure characterized by a single seller or producer dominating the entire market, with no close substitutes for its product or service.