On November 1, 2014, Oster Company Declared a Dividend of $3.00

question 30

Multiple Choice

On November 1, 2014, Oster Company declared a dividend of $3.00 per share. Oster Company has 20,000 shares of common stock outstanding and no preferred stock. The date of record is November 15, and the payment date is November 30, 2014.
-Which of the following statements is TRUE about the date of record?

• A) No journal entry is made on the date of record.
• B) The liability must be recorded on the date of record.
• C) Cash is disbursed to shareholders on the date of record.
• D) The company transfers cash to a brokerage firm on the date of record.

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Definitions:

Native Americans

The indigenous peoples of the United States, including both American Indian and Alaska Native groups.

Slavery

The ownership and control of people.

Ownership

Ownership refers to the legal right or title to possess and use property, whether tangible or intangible, including rights to use, enjoy, and dispose of the property as the owner sees fit.

Control

The ability to shape or guide the actions of individuals or the direction of occurrences.