Question: TB MC Qu . 4 - 7 7 ( Static ) A contra - account: A contra - account: increases the original value of the

TB MC Qu.4-77(Static) A contra-account:
A contra-account:
increases the original value of the account to which it relates
offsets, or reduces, another account.
reduce the asset to its fair value.
always appears in the same column of the trial balance as the account to which it relates.
TB MC Qu.4-77(Static) A contra-account: A contra-account: increases the original value

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