A Reversing Entry

question 77

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 the same as the adjusting entry made in a previous period.
• 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:

Marketplace

A platform or environment where buyers and sellers come together to exchange goods, services, or information.

Product Delivery

The complete process of bringing a product from conception to market availability, including production, testing, and distribution.

Product Design

The process of creating a new product to be sold by a business to its customers, focusing on form, function, usability, and aesthetics.

HR Policies

Specific guidelines or rules set by an organization's human resources department to govern employee relations and workplace practices.