No Entry Is Required on the Date of Record for a Cash

question 224

True/False

No entry is required on the date of record for a cash dividend.

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Definitions:

Credited

Recognized or accounted for in financial transactions; often involves adding a sum to an account balance.

Account

A record or statement of financial expenditure and receipts, related to a specific period or purpose, or a contractual arrangement through which an individual or entity receives financial or banking services.

Cheque

A written, dated, and signed instrument that directs a bank to pay a specific sum of money to the bearer or to a specified person.

Invoice

A document issued by a seller to a buyer, detailing products or services provided, quantities, and agreed prices.