Examlex

Solved

The Allowance for Doubtful Accounts Is a Contra Account to Accounts

question 54

True/False

The allowance for doubtful accounts is a contra account to accounts receivable and has a normal credit balance.


Definitions:

Generic

A characteristic or product that is not branded or trademarked, often considered universal or standard.

Specific Manufacturer

A particular company that produces goods or products within a defined domain of expertise.

Blood-Brain Barrier

A semipermeable barrier of endothelial cells that prevents certain substances in the blood from reaching the brain, while allowing others to pass.

Central Nervous System

The central nervous system is the part of the nervous system consisting of the brain and spinal cord, which is responsible for processing and sending out signals to the body.

Related Questions