LMN Ltd Declared an Interim Dividend on 12 February 2018

question 3

Multiple Choice

LMN Ltd declared an interim dividend on 12 February 2018 of 10 cents per share (500 000 issued shares) and paid it on 3 March 2018. The journal entry on 12 February 2018 would include:

• A) DR Interim dividend declared, $50 000.
• B) CR Cash, $50 000.
• C) CR Retained profits, $50 000.
• D) None of the above

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Definitions:

Training Techniques

Various methods used to transfer knowledge and skills to employees, including on-the-job training, classroom training, e-learning, simulations, and mentoring.

In-House

Refers to activities or operations conducted within a company by its own staff or resources, rather than being outsourced to external entities.

First-Impression Error

A type of judgment bias where an initial impression about a person affects the evaluator's perception of subsequent information.

Job Requirements

The qualifications, skills, and experience deemed necessary for a person to perform a particular job.