1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
BartSMP [9]
3 years ago
5

A reversing entry is the exact opposite of an adjusting entry made in a previous period. is made when a business disposes of an

asset it previously purchased. is made when a company sustains a loss in one period and reverses the effect with a profit in the next period. reverses entries that were made in error.
Business
1 answer:
Ulleksa [173]3 years ago
7 0

Answer: A reversing entry: <em><u>"is the exact opposite of an adjusting entry made in a previous period.".</u></em>

<em><u /></em>

Explanation: Reversion entries are an end-of-the-year technique that involves the reversal, on the first day of the new accounting period, of those end-of-year adjustment entries that cause expenses or income and therefore will result in payments or cash receipts. Its purpose is to allow company personnel to record routine transactions in a standard manner without referring to previous adjustment entries.

You might be interested in
PSI, a financial services consultant, estimates that over _____ million U.S. households have a net worth in excess of $1 million
True [87]
About 4 million households in US have a net worth in excess of 1 million. And from that 4 million, only about 1800 of them that excess $ 1 billion in net worth ( accordint to data in 2016)
6 0
3 years ago
After completing an investigation, internal auditing has concluded that an employee has stolen a significant amount of cash rece
gtnhenbr [62]

Answer:Option A

Explanation:

Auditing is an independent examination of the financial statement of an audit client to express a true and fair view on the statement examined.

Investigation is a much deeper aspect of auditing that wants to examine a particular aspect of in organization for example theft of cash, insurance claim etc.

The Auditor is only to report to the Board of Directors i.e the Engagement Officer.

The internal auditor must be concerned about the possibility of inclusion of a statement for which the accused employee could use to sue the organization. It becomes imperative for a draft of the proposed final communications on fraud should be submitted to legal counsel for review to prevent further liabilities for the organization.

6 0
3 years ago
Which element of the marketing mix is the most visible and flexible?
Anestetic [448]
<span>the elements of product, price, place, and promotion which sport marketers manipulate to achieve marketing goals and objectives and are mostly visible and flexible. the price is in many ways one of the most visible, and for many organizations price is also potentially the most controllable and flexible element of marketing mix. The most visible element is price, and also it is seen to be possibly the most flexible element of the marketing mix, it is probably the most difficult to manage and it has to reflect the state of what matters is to understand that price does not stand alone, it interacts with the whole organization. Overall, price is very visible.</span>
4 0
3 years ago
When leaders of an organization compete and debate for scarce resources. They are operating within which frames of reference?
natali 33 [55]

SAJDJKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKDSAAAAAAAAAAAAA

6 0
3 years ago
Board members of a nonprofit organization are calculating the salary offer for a new ceo. the board wants to ensure the salary p
lesya692 [45]

Answer:

nonprofit distributing

Explanation:

Based on the scenario being described within the question it can be said that the board members are practicing nonprofit distributing. This term refers to an organizational structure in which the profit the organization makes is reinvested in services to grow the business as opposed to being distributed to the shareholders. Which is what the company in this scenario is doing by using the money they have made in order to hire a new skillfull CEO.

3 0
3 years ago
Read 2 more answers
Other questions:
  • John clark works as a land buyer for a city government. after negotiating the purchase of a parcel of land to be used for a new
    9·1 answer
  • Why are extensive training and team building activities important when managing contracted relationships?
    5·1 answer
  • Apple Tree Enterprises allocated overhead based on direct material cost and has a predetermined overhead rate of 160%. During th
    5·1 answer
  • An informal work group is:a. a collection of individuals who interact with each other such that oneperson’s actions have an impa
    12·1 answer
  • Pepsico's CFO uses this equation, which was developed by regressing inventories on sales over the past 5 years, to forecast inve
    11·1 answer
  • The LM curve illustrates that when income increases:________.
    15·1 answer
  • On January 2, 20X3, Kean Company purchased a 30 percent interest in Pod Company for $250,000. Pod reported net income of $100,00
    11·1 answer
  • Three soft skills i need an answer
    10·1 answer
  • Oriole Company reported cost of goods sold as follows. 2022 2021 Beginning inventory $ 30,150 $ 20,730 Cost of goods purchased 1
    13·1 answer
  • Which of the following is something a "smart pick list" does NOT help pickers do?pick materials based on order of deliverypick m
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!