The Sales Discounts Account Is an Example of a Contra

question 59

True/False

The Sales Discounts account is an example of a contra revenue account.

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Definitions:

Affirms

To declare something to be true, confirm, or ratify, especially in a legal context.

Scope of Authority

The range or extent of power given to an individual or entity to act on behalf of another or make decisions.

Unsafe Situations

Conditions or scenarios that pose a risk of injury or harm to people, property, or the environment.

Breach

The violation of a law, duty, or other form of obligation, including breaking a contract or agreement.