When reversing entries are used in the accounting system which of the following categories of adjusting entries are always reversed?
Accrued Expenses Accrued Revenue Depreciation
A) Yes Yes Yes
B) No No No
C) Yes Yes No
D) No No Yes

Question

Quizplus · Accepted Answer

Accrued expenses and accrued revenue are always reversed with reversing entries. Depreciation is not reversed as it is a non-cash transaction.

When Reversing Entries Are Used in the Accounting System Which