Which of the Following Statements Regarding the Date of a Cash

question 94

Multiple Choice

Which of the following statements regarding the date of a cash dividend declaration is not true?

• A)The dividend can be cancelled once it has been declared.
• B)The corporation is committed to a legal, binding obligation.
• C)The board of directors formally authorizes the cash dividend.
• D)A liability account must be created or increased.

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Definitions:

Protein Substance

A complex organic compound made up of amino acids that is essential to the structure and function of all living cells.

Metabolism

The complex of life-sustaining chemical reactions in organisms for converting food to energy, building molecules, and eliminating waste products.

Cellular Processes

Biological activities and mechanisms that occur within living cells to sustain life and promote growth and function.

Living Tissue

Biological material consisting of cells and extracellular components that perform specific functions in the body.