Question 25 Not yet If a customer agrees to retain merchandise that is defective because the seller is willing to reduce the selling price, this transaction is known as a sale: answered Marked out of 1.00 P Flag question a. Return b. Allowance c. Contra asset O d. Discount. The Accounting Equation is Question 26 Not yet answered Marked out of 1.00 a. Assets = Liabilities + Owner's Equity b. Assets = Liabilities - Owner's Equity O c. Assets = Revenues + Owner's Equity d. Owner's Equity = Assets + Liabilities P Flag question Next page Previous page