All of the following are contra revenue accounts except

A. sales
B. sales allowances
C. Sales discounts
D. sales returns

Ans: A. sales

Business

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A yield curve that reflects relatively similar borrowing costs for both short-term and long-term loans is called as ________

A) normal yield curve B) inverted yield curve C) flat yield curve D) lognormal curve

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Refer to the EZ Electronics annual report above. Using vertical analysis, 2011 net income would be represented as ________

A) 19% B) 100% C) 20% D) 22%

Business