Use This End-Of-Period Spreadsheet to Answer the Questions That Follow

question 196

Multiple Choice

Use this end-of-period spreadsheet to answer the questions that follow.
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-The entry to close the dividends account would be

• A) debit Retained Earnings, $3,000; credit Dividends, $3,000
• B) debit Retained Earnings, $12,000; credit Dividends, $12,000
• C) debit Dividends, $3,000; credit Retained Earnings, $3,000
• D) debit Dividends, $12,000; credit Retained Earnings, $12,000

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Definitions:

Hierarchy

A system or organization in which people or groups are ranked one above the other according to status or authority.

Multinational Corporations

Companies that operate in multiple countries beyond their home country, managing production or delivering services in various nations.

Duplication of Tasks

Duplication of tasks refers to the scenario where the same work is being performed by multiple individuals or groups, often leading to inefficiency and waste of resources.