A Company Usually Makes a Reversing Entry

question 13

Multiple Choice

A company usually makes a reversing entry

• A) on the first day of the next accounting period.
• B) at the end of the prior accounting period.
• C) on the second day of the next accounting period.
• D) on the last day of the next accounting period.

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Definitions:

Chemical

A substance with a distinct molecular composition that is produced by or used in a chemical process.

Inhibitions

Psychological or emotional barriers that restrain or prevent certain actions, thoughts, or feelings, often based on social norms or personal fears.

Judgment

The cognitive process of evaluating or making decisions about something or someone based on available information and personal criteria.

Social Contagion Effect

The phenomenon where behaviors, attitudes, or emotions spread through a group or society, often magnified by social networks and media.