Which of the following adjustments may be reversed?
A) The adjustment to Record Depreciation Expense
B) The adjustment to Allocate Prepaid Insurance to the current period
C) The adjustment to Accrue Salaries Payable
D) The adjustment for Petty Cash replenishment

Question

Quizplus · Accepted Answer

Accrued salaries payable can be reversed because it involves recognizing an expense and liability that will be paid in the future, and reversing it helps in matching the expense with the period in which the payment is actually made.

Which of the Following Adjustments May Be Reversed