Contra Accounts Have the Same Normal Balance as the Related

question 96

True/False

Contra accounts have the same normal balance as the related account and are added to the related account on the balance sheet.

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Definitions:

Human Resource Management

The strategic approach to effectively managing people within an organization, focusing on policies and systems to maximize employee performance in service of an employer's strategic objectives.

Country

A distinct geographic territory with its own government, recognized as a sovereign state.

Uncertainty Avoidance

A cultural dimension that describes the extent to which a society tolerates ambiguity and uncertainty.

Cultural Preference

The tendency of individuals or groups to favor certain beliefs, practices, or items because of cultural backgrounds.