On January 15, 2014, Dartmouth Ltd

question 16

Multiple Choice

On January 15, 2014, Dartmouth Ltd.declared its regular quarterly dividend.It will be paid on February 15, 2014.Which of the following monthly balance sheets would have a dividend payable account reported on it?

• A)December 31, 2013
• B)January 14, 2014
• C)January 31, 2014
• D)February 28, 2014

---

Definitions:

Voidable

A contract or transaction that is voidable can be legally nullified or cancelled by one of the parties involved, often due to reasons like misrepresentation or lack of capacity.

Misrepresentation

A false statement of fact made by one party to another, which has the effect of inducing that other party into a contract.

Fraud

A deliberate deception practiced in order to secure unfair or unlawful gain, often involving financial transactions.

Rescind

To revoke, cancel, or repeal a law, order, or agreement.