A Reversing Entry Could Be Used If

question 85

Multiple Choice

A reversing entry could be used if

• A) there is an adjusting entry.
• B) the adjusting entry increases an asset or liability account.
• C) the adjusting entry account did not have a previous balance.
• D) all of these were true.
• E) none of these were true.

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Definitions:

Lower Unemployment

A situation or condition where there is a decrease in the number of people who are actively seeking work but are unable to find employment.

Higher Education

Education provided by universities and other institutions that award academic degrees, such as colleges and vocational schools.

Grade Inflation

The tendency over time for academic grades to become progressively higher, often without a corresponding increase in learning or achievement.

Assortative Mating

Occurs when marriage partners are selected so that spouses are similar on various criteria of social rank.