Register now or log in to join your professional community.
Contra asset account show credit balance
Answer b
It reduce asset with its amount in balance sheet
Like allowances for doubtful customers accounts it reduce accounts receivable when reporting balance sheet
The contra asset account has a credit balance. Answer is B.
normally
credit balance ..................................
Option C : Credit
it shows credit balance
Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.