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Contra account

An Account which offsets another account. A contra-asset Account has a credit Balance and offsets the debit Balance of the corresponding asset. A contra-liability Account has a debit Balance and offsets the credit Balance of the corresponding liability.

Related Terms: 9 Account, Asset, Balance, Credit balance, Credit, Debit, Debit balance, Liability, Offset
Other Related Pages: Category: Accounting Starting With: C
Semi Related Terms: 452 CLICK HERE TO VIEW
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trade, Form S-1, Friends and family offering, Fair Credit Reporting Act, Full faith and credit, Family of funds, Fund of funds, Free and clear, Flexible spending account, Free right of exchange, General account, G-7, General Agreement on Tariffs and Trade, G-8, Growth and income fund, Gather in the stops, Hidden asset, Hart-Scott-Rodino Act of 1976, Hit the bid, House account, House of issue, Health Insurance Portability and Accountability Act, Holder in due course, High credit, Home equity line of credit, Hope credit, Head and shoulders, Hammering the market, Held at the opening, Holding the market, Inactive asset, Intangible asset, Inactive account, Insured account, In escrow, In-house, Investment Advisor Act of 1940, Investment Company Act of 1940, In line, Insider Trading sanctions Act of 1984, Internal Rate of Return, Indication of interest, In intestacy, Impaired credit, In play, In-process research and development, I/O strip, In-service withdrawal, Imbalance of orders, In and out, In sympathy, In the tank, Joint account, Jointly and severally, Jumping the gun, Joint and several liability, Joint and survivor annuity, Last In First Out, Liability, Lender of last resort, Law of one price, Lending at a rate, Limit-on-close order, Law of demand, Law of supply, Loose credit, London International Financial Futures and Options Exchange, Letter of comment, Line of credit, Lock-in, Leading the market, Lifetime learning credit, Limited Liability Company, Locked in, Long-term gain or loss, Level I quotes, Make a market, Managed account, Margin account, Market on close order, Medium of exchange, Mixed account, Noncurrent asset, Non-financial asset, National Credit Union Administration, Negotiable certificate of deposit, Negotiable Order of Withdrawal, Nostro account, Notice of Sale, National Association of Securities Dealers, National Association of Securities Dealers Automated Quotations system, No limit order, No quote, Nominal asset, No-Fault, Net Asset Value, No-Action Letter, Null and void, No-lien affidavit, Nonperforming asset, Non-revolving credit card, Notice of Default, No-load, National Association of Real Estate Investment Trusts, No-load stock, No book, Off-balance-sheet financing, Off the books, Other current assets, Other long term liabilities, Office of Thrift Supervision, Out-of-favor, Over-the-Counter, Off-floor order, On-floor order, On margin, Option account, Or better, Other income, Omnibus account, Opinion of title, On account, On-the-spot loan, Open-end credit, Original principal balance, Out of the money, Old age, survivors, and disability insurance, On-balance volume, Off-board, Offset, On close, On open, On the opening, Pooling of interests, Profit and loss statement, Payment-in-kind security, Price Value of a Basis Point, P&L, Power of Attorney, Past-due balance method, Previous balance method, Principal balance, Prioritization of debt, Plan asset, Paid-in capital, Paid-in surplus, Private Investment in Public Equity, Preservation of capital, Point-and-figure chart, Painting the tape, Real asset, Reports and Records, Return of capital, Return on Capital, Return on Invested Capital, Return on Total Assets, Reading the tape, Regulation D, Regulation G, Regulation T, Regulation U, Restricted account, Round of funding, Rules of Fair Practice, Rate of exchange, Reciprocal of European terms, Red herring, Regulation A, Right of first refusal, Right of rescission, Remaining principal balance, Revolving line of credit, Right of recourse, Rule of 78, Right of redemption, Retirement Equity Act of 1984, Risk/return trade-off, Return on Capital Employed, Rate of return, Real rate of return, Selling, General and Administrative Expenses, SG&A, Stranded asset, Savings account, Savings and Loan, Sight letter of credit, S&L, Securities and Exchange Commission, Segregation of securities, Sell the book, Sweep account, Standard of living, Separate account, Severally but not jointly, Statute of Limitations, Sale and 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formation, When, as, and if issued, X or XD, Y shares