An account used with a related account to bring about a decrease in the net...

50.1K

Verified Solution

Question

Accounting

An account used with a related account to bring about a decrease in the net amount of the two account balances is called a(n)
a. adjusting account.
b. expense account.
c. contra-account.
d. revenue account.
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students