A Reversing Entry ________

question 94

Multiple Choice

A reversing entry ________.

• A)is required by GAAP
• B)is dated the last day of an accounting period
• C)exactly resembles the prior adjusting entry prepared in the books
• D)switches the debit and the credit of a previous entry

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Definitions:

Universal

Pertaining to or affecting the whole or applicable in all cases; general.

Existential Import

A property of categorical propositions; a proposition has existential import if its truth depends on the existence of things of the kinds specified by terms in the proposition.

Contrary

Opposing or differing in nature, direction, or meaning; in logic, it refers to propositions that cannot both be true but can both be false.

Proposition

An articulation or statement that communicates a judgement or perspective.