Post Utme Al Hikmah University 2017 Accounting Question 22

Practice objective / multiple choice question 22 from the 2017 Post Utme Al Hikmah University Accounting examination.

Post Utme Al Hikmah University 2017 Accounting Objective / Multiple Choice
Question 22 POST_UTME_AL-HIKMAH_UNIVERSITY • 2017 • ACCOUNTING • objective

A company has the following ledger accounts: Cash, Accounts Payable, Accounts Receivable, Common Stock, Dividends, Retained Earnings, Sales Revenue, and Cost of Goods Sold. Which of the following accounts is a contra-asset account?

Answer Options

Correct Answer A. Accounts Payable
B. Accounts Receivable
C. Cost of Goods Sold
D. Sales Revenue
Correct Answer
A
Correct Option:
Accounts Payable

About This Question

This is Post Utme Al Hikmah University 2017 Accounting Question 22. It is one of the objective questions from the 2017 Post Utme Al Hikmah University Accounting examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support