The Rent It Company Declared a Dividend of £

question 51

Multiple Choice

The Rent It Company declared a dividend of £.60 a share on October 20th to holders of record on Monday, November 1st.The dividend is payable on December 1st.You purchased 100 shares of Rent
It Company on Wednesday, October 27th.How much dividend income will you receive on
December 1st from the Rent It Company?

• A)£0
• B)£1.50
• C)£6.00
• D)£15.00
• E)£60.00

---

Definitions:

Average

A statistical measure that denotes the central value of a set of numbers.

Dollar-Value LIFO

An inventory valuation method that uses the last-in, first-out (LIFO) principle but measures inventory in dollar amounts rather than in physical units.

Specific Identification Method

An inventory valuation method that tracks the cost of specific items sold and remaining inventory.

Manipulation Of Profits

The unethical or illegal adjustment of a company's financial records in order to present an inaccurately positive picture of its financial performance.