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1(a) Credit Card Expense is a(n) account. if this is a contra-account, select the category to which it is contra. For example, for a contra-equity

1(a)

Credit Card Expense is a(n) account. if this is a contra-account, select the category to which it is contra. For example, for a contra-equity account, choose equity.

asset

liability

equity

revenue

expense

1(b)

Accounts Payable is a(n) account. if this is a contra-account, select the category to which it is contra. For example, for a contra-equity account, choose equity.

asset

liability

equity

revenue

expense

1(c)

Inventory is a(n) account. if this is a contra-account, select the category to which it is contra. For example, for a contra-equity account choose equity

asset

liability

equity

revenue

expense

1(d)

Accounts receivable is a(n) account. if this is a contra-account, select the category to which it is contra. For example, for a contra-equity account choose Equity.

Asset

liability

equity

revenue

expense

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Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel

IFRS Edition

9781119153726, 978-1118285909

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