Multiple Choice
Which of the following statements relating to reversing entries is correct?
A) Reversing entries are always necessary.
B) There are alternative ways of dealing with the effect of accruals in subsequent periods without using reversing entries.
C) Reversing entries are never appropriate for deferral type entries.
D) Depreciation is an adjustment that requires reversing in the subsequent period.
Correct Answer:
Verified
Correct Answer:
Verified
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