Before Dividends Can Be Paid,they Must Be Declared and Voted

question 10

True/False

Before dividends can be paid,they must be declared and voted upon by the shareholders.

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Definitions:

Fair Market Value

The estimated price at which an asset would sell in the marketplace when both buyer and seller are reasonably knowledgeable and willing parties.

Accountant

A professional who performs accounting functions such as audits or financial statement analysis. Accountants can also advise on financial strategies and tax planning.

Gross Income

The total income earned by an individual or a business before any deductions or taxes are taken out.

Political Subdivision

An administrative division of a country that is granted certain powers and responsibilities by legislation, such as a city, county, or district.