Which of the following categories of adjusting entries are always reversed when an entity uses reversing entries in their accounting system?
I. Accrued Expenses
II. Accrued Revenue
III. Depreciation
A) All of these.
B) I and III only.
C) I and II only.
D) III only.

Question

Quizplus · Accepted Answer

Accrued expenses and accrued revenue are always reversed when an entity uses reversing entries in their accounting system. Depreciation is not typically reversed.

Which of the Following Categories of Adjusting Entries Are Always