Which of the Following Happens at the Date of Record

question 52

Multiple Choice

Which of the following happens at the date of record?

• A)Dr.Dividends declared, Cr.Dividends payable
• B)Dr.Dividends declared, Cr.Cash
• C)No entry is made in the accounts, but a list of shareholders entitled to receive the dividend is prepared.
• D)The board of directors approves the dividend but no entry is made in the accounts.

Understand the concept of agency independence and the factors contributing to it, including differentiated phenomena such as agency “captives” and “shadows.”

Grasp how separation of powers affects administrative agencies and their creation.

Know the impacts and implications of the Freedom of Information Act (FOIA) on accessing government-held information.

Distinguish between different types of administrative agencies and their creation, powers, and rules.

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Definitions:

Percentage of Sales Method

A financial forecasting model that assumes certain expenses and incomes will vary directly with sales.

Allowance for Doubtful Accounts

A contra-asset account that estimates the portion of accounts receivable which may not be collectible.

Bad Debts Expense

An expense account reflecting estimated uncollectible accounts receivable.

Percent of Sales Method

A forecasting technique used in finance to predict future variables such as assets, liabilities, and expenses, based on projected sales figures.