An Account Linked with Another Account That Has an Opposite

question 99

Multiple Choice

An account linked with another account that has an opposite normal balance and 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:

Controlling

In management, it involves monitoring performance, comparing it with goals, and taking corrective action as needed.

Entrepreneurial Idea

An innovative concept or solution that can be transformed into a viable business opportunity.

Implementation Stage

The phase in a project or strategy when the planned actions are executed or put into operation.

Capital/Money

Financial assets or their financial value used to fund operations and investments in a business.