An Account Linked with Another Account That Has an Opposite

question 143

Multiple Choice

An account linked with another account that has an opposite normal balance and that is subtracted from the balance of the related account is a(n) :

• A) Accrued expense.
• B) Contra account.
• C) Accrued revenue.
• D) Intangible asset.
• E) Adjunct account.

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Definitions:

Contextual Intelligence

The ability to understand the limits of our knowledge and adapt that knowledge to an environment different from the one in which it was developed.

Practical Application

The use of theoretical knowledge in a real-world context, demonstrating how concepts or techniques can be applied to solve problems.

Creative Intelligence

The ability to produce new products, ideas, or inventing novel solutions to problems.

Informal Reasoning

The process of reasoning without a strict structure or rules, often used in everyday decision-making and problem-solving.