In accounting, a contra account is an account that offsets or reduces the balance of a related account. In the context of the cash book, the contra account would typically refer to an account that reflects reductions in cash, such as withdrawals or expenses.

### Analysis of Options
1. **A. Purchases account**: This reflects purchases made and would not directly offset cash.
2. **B. Bank account**: This can be related to cash but isn't specifically a contra account.
3. **C. Sales account**: This reflects revenue generated and would not serve as a contra account.
4. **D. Balance sheet**: This is not an account but a financial statement.

The correct answer in this context is **none of the options** provided specifically represent a typical contra account for the cash book. However, if one has to choose, expenses or withdrawals that reduce the cash balance are not directly represented in the options given.

### Final Answer
None of the provided options accurately represent the contra account for cash books.

Question

In accounting, a contra account is an account that offsets or reduces the balance of a related account. In the context of the cash book, the contra account would typically refer to an account that reflects reductions in cash, such as withdrawals or expenses.

### Analysis of Options
1. **A. Purchases account**: This reflects purchases made and would not directly offset cash.
2. **B. Bank account**: This can be related to cash but isn't specifically a contra account.
3. **C. Sales account**: This reflects revenue generated and would not serve as a contra account.
4. **D. Balance sheet**: This is not an account but a financial statement.

The correct answer in this context is **none of the options** provided specifically represent a typical contra account for the cash book. However, if one has to choose, expenses or withdrawals that reduce the cash balance are not directly represented in the options given.

### Final Answer
None of the provided options accurately represent the contra account for cash books.

Knowee AI · Accepted Answer

In accounting, a contra account is an account that offsets or reduces the balance of a related account. In the context of the cash book, the contra account would typically refer to an account that reflects reductions in cash, such as withdrawals or expenses.

### Analysis of Options
1. **A. Purchases account**: This reflects purchases made and would not directly offset cash.
2. **B. Bank account**: This can be related to cash but isn't specifically a contra account.
3. **C. Sales account**: This reflects revenue generated and would not serve as a contra account.
4. **D. Balance sheet**: This is not an account but a financial statement.

The correct answer in this context is **none of the options** provided specifically represent a typical contra account for the cash book. However, if one has to choose, expenses or withdrawals that reduce the cash balance are not directly represented in the options given.

### Final Answer
None of the provided options accurately represent the contra account for cash books.

Which of the following is the contra account for cash books?Group of answer choicesA. Purchases accountB. Bank accountC. Sales accountD. Balance sheet

Question

Which of the following is the contra account for cash books?

Solution

Analysis of Options

Final Answer

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