If a Company Utilizes Reversing Entries, They Will

question 65

Multiple Choice

If a company utilizes reversing entries, they will

• A)be made at the beginning of the next accounting period.
• B)not actually be posted to the general ledger accounts.
• C)be made before the post-closing trial balance.
• D)be part of the adjusting entry process.

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Definitions:

Real Numbers

All the numbers that can be found on the number line, including both positive and negative numbers, zero, and irrational numbers.

Exponential Expression

An expression that involves a base raised to the power of an exponent, indicating repeated multiplication.

Additive Inverse

The additive inverse of a number is a value that, when added to the original number, results in zero. For example, the additive inverse of 5 is -5.

Multiplicative Inverse

Also known as the reciprocal, it is a number which, when multiplied by the original number, results in a product of one.