Closing the Dividends Account to Retained Earnings Is Not Necessary

question 259

True/False

Closing the Dividends account to Retained Earnings is not necessary if net income is greater than dividends paid during the period.

Identify symptoms and health consequences of common STIs.

Recognize safe and unsafe sexual practices.

Learn about the prevention methods for STIs.

Understand the role of hygiene and cleanliness in preventing ectoparasitic infections.

---

Definitions:

Past Consideration

A concept in contract law that refers to an act or benefit given prior to the promise being made, which therefore does not constitute valid consideration for a contract.

Stock Options

Financial derivatives that give the holder the right, but not the obligation, to buy or sell a stock at a predetermined price within a specific period.

Promissory Estoppel

A legal principle that prevents a party from backing out of a promise which led the other party to take action or abstain from it, based on the promise.

Illusory Promise

A statement that appears to be a promise but does not actually bind the party making it to any action or performance, rendering it unenforceable as a contract.