Distinguish Between a Reversing Entry and an Adjusting Entry

question 209

Essay

Distinguish between a reversing entry and an adjusting entry. Are reversing entries required?

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Definitions:

Customer-touching Applications

Software applications, often part of CRM systems, that allow customers to directly interact with a company's services or its information.

Customer-centric

describes a strategy that prioritizes the needs and desires of customers in the development and selling of products or services.

Repeat Customers

Individuals who repeatedly purchase goods or services from the same business or brand.

Loyalty Programs

Marketing strategies designed to encourage customers to continue to shop at or use the services of a business associated with the program.