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:

Romantic Feelings

Emotions associated with love, affection, and strong personal attachment toward another person, typically characterized by desire and intimacy.

Non-Western Cultures

Non-Western cultures refer to societies and cultures that do not follow the historical and cultural traditions of Western Europe and North America.

Divorce Rates

The statistical measure of the number of divorces that occur in a particular population during a specific period of time.

Passionate Love

An intense emotion and attraction to someone, which often includes a desire for a physical and emotional connection.