A reversing entry is acceptable for which of the following?
A)Depreciation of building
B)Allocation of prepaid rent to the current period
C)Correction of an error
D)Accrual of interest expense

Question

Quizplus · Accepted Answer

Reversing entries are typically used for accrued expenses or revenues, such as interest expense, to simplify the recording of transactions in the next accounting period.

A Reversing Entry Is Acceptable for Which of the Following