An Adjusting Journal Entry That Includes an Increase to a Contra-Asset

question 72

Multiple Choice

An adjusting journal entry that includes an increase to a contra-asset account would include an increase in a(n) :

• A)related asset account.
• B)liability account.
• C)revenue account.
• D)expense account.

Calculate the inventory turnover rate.

Compute the rate of return on investment (ROI).

Calculate the acid test ratio.

Compute the ratio of accounts receivable to net sales.

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Relating to or concerned with the actions or activities of living organisms towards their environment.

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The refusal to accept or comply with something; the attempt to prevent something by action or argument.