In Transaction Analysis,the Declaration and Payment of Dividends Is Recorded

question 153

Multiple Choice

In transaction analysis,the declaration and payment of dividends is recorded in the ________ and ________ columns of the accounting equation.

• A)Dividends;Cash
• B)Expenses;Accounts Receivable
• C)Expenses;Accounts Payable
• D)Retained Earnings;Cash

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Definitions:

Duties

Obligations or responsibilities that are required to be fulfilled under the law or by agreement.

Lifeguard

A person trained and employed to prevent accidents and rescue swimmers in a swimming pool, water park, or beach.

Rescission

The act of revoking, canceling, or repealing a contract, returning all parties to their positions prior to the agreement.

Mutual Agreement

An understanding or contract reached between two or more parties, often formalized by a document, indicating a concurrence of wills or intentions.