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:

Love And Belongingness

A human motivational need, according to Maslow's hierarchy of needs, involving interpersonal relationships, affection, group membership, and love.

Self-Actualization

The realization or fulfillment of one's talents and potentialities, considered as a drive or need present in everyone, the highest level of Maslow's hierarchy of needs.

Psychological Drives

Internal motivations that propel individuals to act in certain ways, often related to basic physiological needs or desires.

Physiological Drives

Basic, instinctual bodily needs that motivate behavior, such as hunger and thirst.