The General Ledger Entry to Adjust the Intracompany Profit Deferred

Multiple Choice

The general ledger entry to adjust the Intracompany Profit Deferred account at the end of an accounting period

A) Is reversed in the following accounting period.
B) Is reversed in the combining process.
C) Results in an entry in the combining process that is essentially a reclassification entry.
D) Results in the Intracompany Profit Deferred account being reduced to a zero balance in the combined column of the combining statement worksheet.
E) None of the above.