Adjusting entries that should be reversed include
A) all accrued revenues.
B) all accrued expenses.
C) those that debit an asset or credit a liability.
D) All of these answers are correct.

Question

Quizplus · Accepted Answer

Adjusting entries that should be reversed typically include all accrued revenues, all accrued expenses, and those that debit an asset or credit a liability. This is because these types of entries are made to record revenues and expenses in the period they occur, regardless of when cash is exchanged, and reversing them helps simplify the accounting process in the next period.

Adjusting Entries That Should Be Reversed Include