The contra-revenue accounts include:
A) Sales Tax Payable.
B) Sales Returns and Allowances.
C) Sales Discount.
D) Both B and C are correct.
Answer: D
Business
You might also like to view...
Gateway Corp. has an inventory turnover ratio of 5.6. What is the firm's days' sales in inventory?
A) 65.2 days B) 64.3 days C) 61.7 days D) 57.9 dayS
Business
The primary market tends to be more active when
A) the economy is slowing and stock prices are falling. B) the economy is expanding and stock prices are rising. C) interest rates are rising. D) early in the calendar year.
Business