The Balance in Ordinary Share Dividend Distributable Should Be Reported

question 32

Multiple Choice

The balance in Ordinary Share Dividend Distributable should be reported as a(n)

• A)deduction from share capital-ordinary.
• B)addition to share capital-ordinary.
• C)current liability.
• D)contra current asset.

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Definitions:

Child and Dependent Care Expense Credit

A tax credit offered to taxpayers to offset costs for the care of children or dependents, to allow them to work or look for work.

Maximum Amount of Expenses

The highest allowable sum that can be counted as an expense for tax or budgetary purposes.

Joint Returns

A combined tax return filed by legally married couples who choose to report their incomes, exemptions, and deductions on the same tax return.

American Opportunity Tax Credit

A financial credit for approved higher education expenses incurred for an eligible learner within the first four years of their tertiary education.