A Reversing Entry

question 46

Multiple Choice

A reversing entry

• A) reverses entries that were made in error.
• B) is the exact opposite of an adjusting entry made in a previous period.
• C) is made when a business disposes of an asset it previously purchased.
• D) is made when a company sustains a loss in one period and reverses the effect with a profit in the next period.

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Definitions:

Behavior Pattern

A repetitive and distinctive way of acting, thinking, or feeling that is characteristic of an individual across different situations.

Type A Behavior

Characterizes individuals who are highly competitive, self-critical, and strive towards goals without feeling a sense of joy in their efforts or accomplishments.

Radical Behaviorism

An approach in psychology that emphasizes the study of observable behavior and the role of the environment as a determinant of behavior, associated with B.F. Skinner.

Social Anxiety

A form of anxiety characterized by intense fear or discomfort in social situations, where one fears being judged or embarrassed.