A Reversing Entry Is ________

question 147

Multiple Choice

A reversing entry is ________.

• A) a journal entry used to close the temporary accounts after preparation of financial statements
• B) a special journal entry used to make the adjustments that took place after preparing the trial balance
• C) a special journal entry that eases the burden of accounting for transactions in the next period
• D) a journal entry prepared at the end of an accounting period to match assets with liabilities

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Definitions:

Symptoms

Signs or indicators of a disease, disorder, or other physical or psychological condition, often experienced by the individual.

Intervention

The action or process of intervening, which may involve direct involvement in a situation to alter an outcome or prevent a problem.

Prevention

Actions or measures taken to stop something undesirable from happening, such as disease or accidents.

Intervention

The action or process of intervening, often to bring about change or alter a course of events.