The Use of Reversing Entries

question 71

Multiple Choice

The use of reversing entries

• A) is a required step in the accounting cycle.
• B) changes the amounts reported in the financial statements.
• C) simplifies the recording of subsequent transactions.
• D) is required for all adjusting entries.

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Definitions:

Spinous Process

A bony projection off the posterior (back) part of each vertebra, serving as a point for muscle and ligament attachment.

Costal Facet

A small, flat surface on a vertebra that articulates with the rib, contributing to the thoracic cage's stability.

Lamina

A thin layer, plate, or scale of organic material, such as the lamina of a vertebrate's bone or the lamina propria in mucous membranes.

Xiphoid Process

A small cartilaginous extension of the lower part of the sternum which is usually ossified in the adult human.