An example of a contra asset account is:
A)Accumulated amortization
B)Amortization expense
C)Discount on Bonds Payable
D)Prepaid expenses

Name: An example of a contra asset account is: A)Accumulated amortization B)Amortization expense C)Discount on Bonds Payable D)Prepaid expenses
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Accumulated amortization is an example of a contra asset account, as it offsets the amount of fixed assets on the balance sheet that have been amortized or depreciated over time.

An Example of a Contra Asset Account Is