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:

User Persona

A semi-fictional character created by businesses to represent the different user types that might use a service, product, site, or brand in a similar way.

Guide Decision Making

The process of making choices by identifying a decision, gathering information, and assessing alternative resolutions.

User Personas

Fictional characters created to represent the different user types within a targeted demographic, psychographic, or behavior set that might use a site, brand, or product in a similar way.

Positive Characteristics

Favorable, beneficial, or desirable traits or qualities possessed by individuals, groups, objects, or concepts.