Sales discount, sales return, and allowance is _. (a) revenue accounts (b) permanent accounts (c) contra revenue accounts (d) contra expenses accounts.

6) Which of the following are the normal balances of Sales, Sales discounts, and Sales returns and allowances, respectively? A) Debit, credit, and credit B) Debit, debit, and credit C) Credit, debit, and debit D) Credit, credit, and debit

The contra−revenue accounts​ include:   A. Sales Tax Payable.   B. Sales Returns and Allowances.   C. Sales Discount.   D. Both B and C are correct.

Which of the following accounts is a temporary account? Multiple Choice Accounts receivable. Interest payable. Accounts payable. Cash Salaries expense. Profit margin is defined as: Multiple Choice Net sales divided by net income. Revenues divided by net sales. Net income divided by assets, Net sales divided by assets. Net income divided by net sales.

The Allowance for Sales Discounts account: (Select all that apply). Multiple select question. Is reported on the income statement as a reduction to the Sales account. Is reported on the balance sheet as a reduction to the Accounts Receivable account. Is a contra revenue account. Is a contra asset account.

Which of the following accounts is not normally part of the revenue and collection cycle?a. Sales.b. Accounts Receivable.c. Cash.d. Purchases Returns and Allowances

Under accrual-basis accounting,sales made on credit are usually reported as: A.liabilities B.revenue C.a contra account to sales revenue D.cash from operating activities

Which of the following is not a revenue account? a. Professional fee b. Interest income c. Cost of Sale d. Sales

Which of the following accounts normally has a debitbalance?a. Unearned Revenueb. Rent Expensec. Retained Earningsd. Sales Revenue

When a customer pays in advance for products or services, which of the following accounts is credited? a.Sales Revenue b.Cash c.Unearned Revenue d.Accounts Receivable