A contra-asset is:
A) a liability.
B) an asset with a debit balance.
C) an account with an opposite balance of a normal asset.
D) an account that increases the asset.
Answer: C
Business
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Indicate whether the statement is true or false.
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As a contract, the bill of lading specifies that the carrier:
a) is obligated to provide a transportation service in return for a certain charge b) receives payment from a third-party such as a bank or trading house. c) has obtained the merchandise described on the face of the document. d) provides a written promise of payment before releasing the merchandise.
Business