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QUESTION 36 Q. Which of the following results in a contra-revenue? OA Bad debt expense OB. Discount for early payment of A/R OC Fee

QUESTION 36 Q. Which of the following results in a contra-revenue? OA Bad debt expense OB. Discount for early payment of A/R OC Fee charged by credit card company D. None of the above QUESTION 37 Q: Which of the following is NOT true regarding liabilities? CA They represent obligations of the firm OB. The represent a form of financing OC. They require repayment in cash D. They equal assets minus owners' equity

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