Examlex
Which of the following would NOT pertain to an agency of record?
Contra Asset Account
An asset account where its balance is a negative figure that is subtracted from the balance of its related accounts on the balance sheet.
Estimated Inventory Returns
An accounting estimation of goods that will be returned by customers or cannot be sold, affecting inventory valuation on the balance sheet.
Expense Account
An account that tracks the costs incurred by a company in its operational activities.
Asset Account
An asset account is a category in accounting that represents resources owned or controlled by a company that have future economic value.
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