Dividend Accounts Are Closed by Crediting Them and Debiting Retained

question 28

True/False

Dividend accounts are closed by crediting them and debiting Retained Earnings.

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Definitions:

Fallacy

A mistaken belief, especially one based on unsound arguments or reasoning.

Argument

A series of statements or reasons made to persuade others that an action or conclusion is right or wrong.

Subjectivist Fallacy

This exists when someone insists that something is true simply because it is what they believe, ignoring any evidence to the contrary.

Fallacy

Incorrect reasoning in argumentation resulting from a misconception or distortion of a logical argument.