Which of the following statements is true regarding reversing entries in an accounting cycled
A . Reversing all previous closing adjustments is a mandatory step in the accounting cycle
B . Reversing entries should be completed at the end of the next accounting period after recording regular transactions of the period
C . Reversing entries are identical to the adjusting entries made in the previous period.
D . Reversing entries are the exact opposite of the adjustments made in the previous period.
Answer: D