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:

Schizophrenia

An intense psychiatric condition marked by altered cognition, feelings, communication, self-awareness, and actions.

Waxy Flexibility

A symptom of catatonia characterized by a patient's limbs remaining in the position they are placed by another for an extended period.

Tube Feedings

A medical procedure to provide nutrition to individuals who cannot obtain nutrition by mouth, utilizing a tube placed in the stomach or intestine.