Accounting Entries Are Required for Dividends on Which of the Following

question 49

Multiple Choice

Accounting entries are required for dividends on which of the following two dates?

• A) date of declaration and the date of record
• B) date of record and the date of payment
• C) date of declaration and the date of payment
• D) date of record and the date of declaration

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Definitions:

Markdown

The amount that the price of an item is reduced from the regular selling price.

Invoice

a document issued by a seller to a buyer that specifies the products or services provided and the amount due for payment.

Credited

Recognized or accounted for, often referring to the addition of funds to an account.

Selling Price

The price at which a product or service is sold to the purchaser, often determined by the cost of production, market demand, and competition.