Which of the Following Accounts Is a Contra Account

question 129

Multiple Choice

Which of the following accounts is a contra account?

• A)Accumulated Depreciation-Office Furniture
• B)Interest Payable
• C)Depreciation Expense-Office Furniture
• D)Unearned Revenue

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Definitions:

Global Warming

The long-term increase in Earth's average surface temperature, primarily due to human activities such as fossil fuel burning.

Invisible Hand

A term coined by economist Adam Smith to describe the self-regulating nature of the marketplace where individuals' pursuit of self-interest leads to societal benefits.

Capital Owners

Individuals or entities that own assets with economic value expected to benefit future operations, such as machinery, buildings, or equipment.

Government Failure

A situation where government interventions in the economy cause more harm than good, often due to inefficiencies, misallocation of resources, or unintended consequences.