The Date of Record Is the Date That Directors Vote

question 75

True/False

The date of record is the date that directors vote to pay a cash dividend to shareholders.

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Definitions:

S Corporation

A type of corporation in the United States that meets specific Internal Revenue Code requirements, allowing profits and some losses to be passed directly to owners' personal income without being subject to corporate tax rates.

Business Ownership

The legal possession and responsibility for an enterprise, involving rights to the profits and risks of losses.