IIA Exam IIA-CIA-Part3-3P Topic 6 Question 10 Discussion

Actual exam question for IIA's IIA-CIA-Part3-3P exam

Question #: 10
Topic #: 6

Which of the following statements is true regarding reversing entries in an accounting cycled

AReversing all previous closing adjustments is a mandatory step in the accounting cycle

BReversing entries should be completed at the end of the next accounting period after recording regular transactions of the period

CReversing entries are identical to the adjusting entries made in the previous period.

DReversing entries are the exact opposite of the adjustments made in the previous period.

Show Suggested Answer

Suggested Answer: D

by Kenneth at May 03, 2022, 01:57 PM

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