CONTRA
Definition
Financial Accounting Term
contra means Financial Accounting term. Contra is a financial accounting term that is used to describe an accounting transaction that is equal in amount but opposite in sign (i.e. -ve and +ve, or Debit anb Credit) The…
Contra is a financial accounting term that is used to describe an accounting transaction that is equal in amount but opposite in sign (i.e. -ve and +ve, or Debit anb Credit) The net impact of these transactions taken together is Nil or Zero in the financial ledgers.
✓ Verified term