If a Company Utilizes Reversing Entries They Will

question 191

Multiple Choice

If a company utilizes reversing entries they will

• A) be made at the beginning of the next accounting period.
• B) not actually be posted to the general ledger accounts.
• C) be made before the post-closing trial balance.
• D) be part of the adjusting entry process.

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Definitions:

Openness

A personality trait characterized by an appreciation for art, emotion, adventure, and unusual ideas; imaginative and curious.

Fluctuates

Describes variations or changes in state or level over time, often in an unpredictable manner.

Increases

An upward trend or movement in numbers, size, strength, or another measurable factor.

Longitudinal

An observational research method in which data is gathered for the same subjects repeatedly over a period of time.