The Classification and Normal Balance of the Dividend Account Is

question 68

Multiple Choice

The classification and normal balance of the dividend account is

• A) revenue with a credit balance.
• B) an expense with a debit balance.
• C) a liability with a credit balance.
• D) shareholders' equity with a debit balance.

Understand the role and jurisdiction of the Federal Trade Commission in consumer protection.

Identify and describe various consumer protection laws and regulations.

Recognize deceptive practices and legal remedies in advertising and sales.

Explain the rights and obligations of consumers under the Truth in Lending Act.

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Definitions:

No Gain

Refers to a situation in financial or business transactions where there is no profit or increase in value.

Gain on Disposal

is the financial profit made from the sale of an asset, which exceeds its carrying amount.

Insurance Cheque

A payment issued by an insurance company to cover losses or claims.