Question: 59Reversing entries occur at thebeginning of the accounting periodand:a. help to reduce potential errors.b. simplify the bookkeepingassociated with accruals from theprior period.c. reverse the adjusting entries.d. all of the above are correct.

A reversing entry is an accounting entry that is made at the beginning of an accounting period to…

Answered: Question: 59 Reversing entries occur at…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 18MC: Corrections of errors that occurred on a previous periods financial statements are called ________....

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Question: 59 Reversing entries occur at the beginning of the accounting period and: a. help to reduce potential errors. b. simplify the bookkeeping associated with accruals from the prior period. c. reverse the adjusting entries. d. all of the above are correct.