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Question
what are valuation accounts?
 Question Submitted By :: Harish Pentamraju
I also faced this Question!!     Rank Answer Posted By  
 
  Re: what are valuation accounts?
Answer
# 1
Item offset against or added to the gross amount of an 
account to arrive at a net balance. Examples are the 
allowance account that is subtracted from trading 
securities to reduce cost to market value, allowance for 
uncollectible accounts that is netted against accounts 
receivable, accumulated depreciation that is deducted from 
the fixed asset, or bond premium that is added to bonds 
payable.
 
Is This Answer Correct ?    0 Yes 0 No
Zia
 

 
 
 
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