The Board of Directors of Berweck Corporation Declared a Cash

question 112

Multiple Choice

The board of directors of Berweck Corporation declared a cash dividend on January 18, 2010 , to be paid on February 18, 2010 , to shareholders holding the stock on February 2, 2010 . Given these facts, the date February 2, 2010 , is referred to as the

• A) date of declaration.
• B) date of payment.
• C) ex-dividend date.
• D) date of record.

---

Definitions:

Cash Collections

The process of gathering monies that are owed to a business by its customers or clients.

Beginning Inventory

The value of goods available for sale at the start of an accounting period, prior to any purchases or production during the period.

Ending Inventory

The value of goods available for sale at the end of an accounting period after goods sold are subtracted.

August Sales

The total sales revenue generated by a business during the month of August.