Which of the Following Statements Is FALSE About Reversing Entries

question 31

Multiple Choice

Which of the following statements is FALSE about reversing entries?

• A) They are not required by GAAP.
• B) They are used for convenience and to save time.
• C) The reversing entry is exactly the opposite of a prior adjusting entry.
• D) The reversing entry is posted on the last day of the month.

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Definitions:

Abusive Husband

A spouse who engages in behavior that is physically, emotionally, or psychologically harmful to their partner.

Attention-Deficit/Hyperactivity Disorder

A neurodevelopmental disorder characterized by a pattern of inattention and/or hyperactivity-impulsivity that interferes with functioning or development.

Personality Disorder

A mental condition marked by persistent unhealthy patterns of thinking, behaving, and feeling that are displayed in various situations and differ from what is considered normal by the person's cultural standards.

Depression

A condition of mental health defined by an ongoing state of depression or a decrease in pleasure in activities, significantly affecting daily activities.