Your Best Advisors,a Service Company,uses Reversing Entries $$\begin{array} { | c | r | r | } \hline \text { Utilities Expense } & 400 & \\\hline \text { Utilities Payable } & & 400 \\\hline\end{array}$$

question 63

Multiple Choice

Your Best Advisors,a service company,uses reversing entries.On March 31,2016,they journalized and posted the following adjusting entry to accrue Utilities Expense: $$\begin{array} { | c | r | r | } \hline \text { Utilities Expense } & 400 & \\\hline \text { Utilities Payable } & & 400 \\\hline\end{array}$$ Which of the following entries is the correct reversing entry to be prepared on April 1,2016?

• A) \[\begin{array} { | c | r | r | }
• \hline \text { Utilities Payable } & 400 & \\
• \hline \text { Utilities Expense } & & 400 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | c | r | r | }
• \hline \text { Utilities Expense } & 400 & \\
• \hline \text { Income Summary } & & 400 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | c | r | r | }
• \hline \text { Cash } & 400 & \\
• \hline \text { Utilities Expense } & & 400 \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | c | r | r | }
• \hline \text { Utilities Expense } & 400 & \\
• \hline \text { Accounts Receivable } & & 400 \\
• \hline
• \end{array}\]

---

Definitions:

Population Averages

The mean value of a particular characteristic in a population, representing the central tendency of that characteristic across the entire population.

Alternative Hypothesis

The hypothesis that proposes a specific relationship between variables, tested against the null hypothesis in statistical analysis.

One-sample Z-test

A statistical test used to determine whether the mean of a sample significantly differs from a known or hypothesized population mean.

Possible Means

The various average values that could be calculated from different subsets or populations of data.