On February 16,a Company Declares a 34¢ Dividend to Be

question 181

Multiple Choice

On February 16,a company declares a 34¢ dividend to be paid on April 5.There are 1,900,000 shares of common stock issued and outstanding.The entry recorded by the company on February 16 includes a debit to:

• A) Dividends Payable and a credit to Cash for $680,000.
• B) Dividends and a credit to Dividends Payable for $646,000.
• C) Dividends Payable and a credit to Cash for $646,000.
• D) Dividends and a credit to Dividends Payable for $680,000.

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Definitions:

Ethical

Being ethical involves adhering to accepted principles of right and wrong that govern the conduct of a profession or the individual.

Deliberate Machiavellianism

The strategic and sometimes manipulative behavior aimed at achieving personal or organizational goals by whatever means necessary, often without regard for ethics or morality.

Upward Appeal

A means of influence in which the leader enlists a person with more formal authority to do the influencing.

Compliance

The act of conforming to and following rules, standards, laws, or guidelines set by governing bodies or industry standards.