An Example of a Contra Account Is

question 67

Multiple Choice

An example of a contra account is:

• A) Depreciation expense.
• B) Accounts receivable.
• C) Sales revenue.
• D) Accumulated depreciation.

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Definitions:

Procurement Sources

Suppliers or vendors from which businesses obtain goods and services needed for their operations.

Electronic Ordering

The process of purchasing goods or services via electronic means, such as the internet or mobile applications.

Computerized Cash Register

An electronic device designed to handle sales transactions, equipped with the ability to store, process, and record sales data.

Supply Partnership

A strategic relationship between a supplier and a buyer aimed at improving efficiency, quality, and competitiveness.