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Which of the following is an example of a contra asset account?

Practice Questions

1 question
Q1
Which of the following is an example of a contra asset account?
  1. Accumulated Depreciation
  2. Accounts Receivable
  3. Inventory
  4. Cash

Questions & Step-by-step Solutions

1 item
Q
Q: Which of the following is an example of a contra asset account?
Solution: Accumulated Depreciation is a contra asset account that reduces the book value of fixed assets.
Steps: 0

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