A Reversing Entry

Multiple Choice

A reversing entry

A) is made on the last day of the fiscal year after closing entries have been posted.
B) is made on the last day of the fiscal year before closing entries have been posted.
C) is made on the first day of an accounting period.
D) replicates the adjusting entry that was made in the previous period because the adjusting entry was closed to retained earnings during the closing process.