Which of the Following Accounts Is Classified as a Contra

question 10

Multiple Choice

Which of the following accounts is classified as a contra revenue account?

• A)Sales Revenue
• B)Cost of Goods Sold
• C)Sales Returns and Allowances
• D)Purchase Discounts

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Definitions:

Seed

A plant's unit of reproduction, capable of developing into another such plant, containing an embryo along with a food supply encased in a protective outer covering.

Compound Fruits

Fruits that develop from multiple flowers (inflorescence) or from a single flower with multiple ovaries, forming a single mass.

Carpels

The female reproductive organs of a flower, comprising the stigma, style, and ovary.

Legumes

A group of plants, including beans, peas, and lentils, that have the ability to fix nitrogen from the air into the soil, improving soil fertility.