Reversing Entries are more relevant in corporations.

Name: Reversing Entries are more relevant in corporations.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Reversing entries are a bookkeeping technique used to simplify the recording of transactions between accounting periods and are not specifically more relevant to corporations; they can be used by any entity that finds them helpful in managing their accounting processes, including sole proprietorships, partnerships, and corporations.

Reversing Entries Are More Relevant in Corporations