To Close Dividends, the Entry Would Be To

question 17

Multiple Choice

To close Dividends, the entry would be to:

• A)debit Dividends and credit Retained Earnings.
• B)debit net income and credit Retained Earnings.
• C)debit Retained Earnings and credit Dividends.
• D)debit Cash and credit Dividends.

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Definitions:

Hazardous Jobs

Occupations that pose significant risks of injury, illness, or death as a result of the work environment or tasks involved.

Moral Hazard

A situation where one party is more likely to take risks because the consequences of their actions are partly borne by others.

Straight Salary

A fixed amount of pay given to an employee, not dependent on the hours worked or performance.

Over Insure

The condition of having insurance coverage that exceeds the value of the insured item or risk, leading to unnecessary higher premium costs.