Use the Following Information for Questions

question 118

Multiple Choice

Use the following information for questions
On January 1, BearBack Corporation had 300,000 common shares issued.On April 10, the company declared a 10% stock dividend to be distributed on April 30.The market value of the shares was $7 on April 10 and $10 on April 30.
-The entry to record the transaction of April 10 would include a

• A)credit to Retained Earnings for $30,000.
• B)credit to Cash for $210,000.
• C)credit to Stock Dividends Distributable for $210,000.
• D)debit to Stock Dividends Distributable for $300,000.

Comprehend the conditions under which a gratuitous promise may become enforceable.

Differentiate between valid and invalid forms of consideration.

Identify the processes involved in making a document legally binding in the absence of consideration.

Understand the reasons why accurate judgment of personality traits might fail in certain situations.

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Definitions:

Corporate Headquarters

The main office or central administration point of a company where key managerial decisions are made.

Biofuel-Powered Vehicles

Vehicles that operate using fuel produced from organic matter or waste, instead of traditional petroleum fuels.

Eco-Efficiency Measures

A form of CSR information that helps managers evaluate the savings generated by using fewer natural resources in a company’s operations.

Physical Resource

Tangible assets used in the operation of a business, such as machinery, buildings, and equipment.