Dividends Declared but Not Yet Paid Would Be Included Under

question 12

Multiple Choice

Dividends declared but not yet paid would be included under:

• A) accounts payable
• B) accruals
• C) provisions
• D) contingent liability.

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Definitions:

Operational Efficiency

The ability of an organization to minimize input and operational costs while maximizing output or productivity.

Internal Controls

Procedures and measures implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Internal Control

Internal control comprises the procedures and processes implemented by a business to safeguard assets, enhance the reliability of accounting records, and promote efficiency.

Authority

The power or right given to an individual or body to make decisions, issue commands, and enforce obedience within a specific scope or area.