Nonprofit Accounting Question:
Download Questions PDF

Define offset accounting?

Answer:

The one reduces the gross amount of another account to derive a net balance. Accumulated depreciation, which is a contra account to fixed assets to obtain book value, is an example of an offset account.

Download Nonprofit Accounting Interview Questions And Answers PDF

Previous QuestionNext Question
What is VC money in financials?Explain the difference between bookkeeping and accounting?