Which of the Following Statements Is True

question 154

Multiple Choice

Which of the following statements is true?

• A)Profits distributed to the creditors are called dividends.
• B)The balance sheet shows the assets,liabilities,and profits of a company.
• C)Dividends are an expense and are reported on the income statement as a deduction from net income.
• D)The income statement reports the revenues and expenses of a company.

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Definitions:

Fantasy Period

According to Ginzberg, the period, lasting until about age 11, when career choices are made, and discarded, without regard to skills, abilities, or available job opportunities.

Social Clock

The culturally determined psychological timepiece providing a sense of whether we have reached the major benchmarks of life at the appropriate time in comparison to our peers.

Maturation

The predetermined unfolding of genetic information.

Intimacy-versus-Isolation Stage

A concept in Erik Erikson's theory of psychosocial development where individuals face the challenge of forming intimate relationships with others versus feeling isolated.