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Multiple Choice Question 106 Which of the following accounts is classified as a contra revenue account? Sales Returns and Allowances Purchase Discounts Cost of Goods

Multiple Choice Question 106 Which of the following accounts is classified as a contra revenue account? Sales Returns and Allowances Purchase Discounts Cost of Goods Sold Sales Revenue Multiple Choice Question 107 Sales revenues are usually considered earned when goods have been transferred from the seller to the buyer. adjusting entries are made. cash is received from credit sales. an order is received

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