Which of the Following Is Not a Substantive Test of Details

question 47

Multiple Choice

Which of the following is not a substantive test of details for dividends?

• A)Calculation of the dividend payout ratio.
• B)Examination of the minutes of the board of directors' meetings for authorization of the dividend per share amount.
• C)Examination of the minutes of the board of directors' meetings for the dividend record date.
• D)Agreement of the dividend amount with the payment in the cash disbursements journal.

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Definitions:

Savings Deposits

Accounts in financial institutions that allow individuals to deposit money and earn interest over time.

Import Substitution

An industrial trade strategy that favors developing local industries that can manufacture goods to replace imports.

Export Promotion

A trade policy designed to encourage exports.

Industrial Production

The total output of a country's manufacturing, mining, and utility sectors.