A contra-asset is ________. A) an amount that is deducted from ...

[Lobcity]

A contra-asset is ________.
 
  A) an amount that is deducted from an asset
  B) an amount that is added to an asset
  C) an amount that revalues an asset to fair market value as of the balance sheet date
  D) an amount that is classified as shareholders' equity

Question 2

The account, ___________________ _, should be credited for the total income tax withheld from an employee's earnings.
 Fill in the blank(s) with correct word

[ntsoane kedibone]

Answer to Question 1

A

Answer to Question 2

Employee Income Tax Payable

[Lobcity]

TYSM

[amit]

Thanks for the timely response, appreciate it