A Contra Account's Normal Balance (Debit or Credit)is the Opposite

question 198

True/False

A contra account's normal balance (debit or credit)is the opposite of the normal balance of the related account.

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Definitions:

Buying Center

A group of individuals within an organization who participate in the decision-making process for purchasing products or services.

Sales Representative

A professional tasked with selling and promoting a company's products or services, often acting as the liaison between the company and its customers.

Gatekeeper

An individual or entity that controls access to something, such as information, resources, or market entry, often influencing the flow and direction of activities.

Health Insurance

A type of insurance coverage that pays for medical and surgical expenses incurred by the insured.