When a trial balance is prepared, a contra-account appears immediately:
A. after the account it offsets and in the same column.
B. after the account it offsets but in the opposite column.
C. before the account it offsets and in the same column.
D. before the account it offsets but in the opposite column.
Answer: B
You might also like to view...
Source program library controls should prevent and detect unauthorized access to application programs
Indicate whether the statement is true or false
Trust is more likely to be present in a(n) ______.
a. tangible relationship b. intangible relationship c. follower based relationship d. relationship based on currency
Ordinary annuity cash flows occur at the beginning of the interest period
Indicate whether the statement is true or false
In the formula y = a + bX, y represents
a. fixed costs. b. total cost. c. variable costs. d. mixed costs.