The Date of Record Is the Date ________

question 135

Multiple Choice

The date of record is the date ________.

• A)on which the board of directors of a corporation announces that a dividend will be paid
• B)used to determine exactly who will receive dividends
• C)when cash is actually paid to the shareholders
• D)when earnings are declared

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Definitions:

Multiple-Step Statement

An income statement that separates operating revenues and expenses from non-operating ones, providing a detailed view of a company's financial performance.

Operating Expenses

Expenses incurred during the normal course of business operations, excluding production costs, and typically include items like rent, utilities, and payroll.

Loss On Sale

Occurs when the selling price of an asset is less than its carrying amount on the books, resulting in a financial loss.

Multiple-Step Statement

An income statement that provides a detailed breakdown of revenues, expenses, gains, and losses, resulting in the net income.