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.

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Definitions:

Bank Failures

Occurrences where banks are unable to meet their obligations to depositors or become insolvent, often leading to a loss of public confidence and financial instability.

Federal Reserve Governors

Federal Reserve Governors are members of the Board of Governors of the Federal Reserve System, which oversees the United States' central banking system.

Long Terms

Agreements or financial instruments that have an extended duration or maturity period, often exceeding one year.

Medium of Exchange

A mediating tool or mechanism designed to ease the process of buying, selling, or exchanging products among individuals or entities.