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Which of the following statements relating to reversing entries is incorrect?Question 4 Answera.They reverse the effect of certain adjusting entriesb.They reverse the effects of closing

Which of the following statements relating to reversing entries is incorrect?Question 4 Answera.They reverse the effect of certain adjusting entriesb.They reverse the effects of closing entriesc.They are recorded on the first day of the new accounting yeard.They are made to simplify the recording of regular transactions in the next period.

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