Reversing Entries Can Be Made for Accruals,but Not for Deferrals

question 151

True/False

Reversing entries can be made for accruals,but not for deferrals.

---

Definitions:

Abiding by Rules

The act of following established guidelines, regulations, or laws within a given context or environment.

Divergent Thinking

A cognitive approach or technique designed to produce inventive concepts through the examination of numerous potential answers.

Programmed Decision

involves using established procedures or rules to address recurring problems or situations, facilitating consistency and efficiency in decision-making.

Escalation of Commitment

The phenomenon where people continue to invest in a decision or project despite evidence of its failure, often due to pride or fear of loss.