If the Dividends Account Is Not Recorded as a Reduction

question 97

True/False

If the dividends account is not recorded as a reduction to Retained Earnings on the date of declaration, the dividends account is closed to Retained Earnings at the end of the accounting period.

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Definitions:

Secure Self-esteem

A form of self-esteem characterized by a stable and positive perception of self-worth.

Approval

The action of officially agreeing to something or accepting something as satisfactory.

Reciprocal Determinism

A concept in psychology emphasizing the mutual influence between a person's behavior, personal factors, and the environment.

Self-serving Bias

A frequent inclination to credit good outcomes to personal qualities while blaming bad outcomes on outside circumstances.