Which of the Following Statements Is True

question 85

Multiple Choice

Which of the following statements is true?

• A)Appropriations of retained earnings require journal entries,but restrictions on retained earnings are usually reported in notes to the financial statements.
• B)No journal entries are needed to appropriate or restrict retained earnings.
• C)Both appropriations and restrictions of retained earnings require journal entries.
• D)Restrictions on retained earnings must be journalized,but appropriations are usually reported in notes to the financial statements.

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Definitions:

Cable

A thick, strong rope made of wires twisted together, used for various purposes including electrical transmission, mechanical load-bearing, or communication.

Passenger Compartment

The section of a vehicle intended for the seating and protection of passengers.

HVAC System

An acronym for heating, ventilation, and air conditioning system, which provides heating and cooling to residential and commercial buildings.

Dirt

Loose or packed soil or earth; in a mechanical context, it can refer to unwanted particulate matter that can cause wear or contamination.