Dividends Declared After the Balance Date but Before the Financial

question 27

Multiple Choice

Dividends declared after the balance date but before the financial statements are authorised for issue:

• A) meet the recognition criteria for a liability.
• B) satisfy the recognition criteria for an expense.
• C) do not meet the AASB 137 criteria of a present obligation.
• D) are recognised in the statement of financial position as they meet the definition of equity.

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Definitions:

Preemptive Bombing

A military strategy involving an attack made on the presumption that an enemy is planning an imminent attack, intended to neutralize the perceived threat.

Conservative American College Students

Refers to students enrolled in American colleges who hold conservative values and beliefs politically and socially.

Symbolic Racism

A tendency to express negative biases held about a racial outgroup not at the group directly but at social policies seen as benefiting that group.

Ethnocentrism

Viewing the world through our own cultural value system and thereby judging actions and people based on our own culture’s views of right and wrong and good and bad.