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Define the following dividend dates for a cash dividend.For each date,state whether a journal entry should be recorded.In addition,if a journal entry should be record,state the effect on assets,liabilities or equity.
Income Groupings
Categorizations of individuals, households, or countries based on income levels, used for statistical and analytical purposes.
Consumption Expenditures
Spending by households on goods and services, with the exception of purchases of new housing.
Effective Marginal Tax Rate
The rate at which an additional dollar of income gets taxed, taking into account the impact of all applicable tax brackets.
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