When the Cost Method of Accounting for Long-Term Investment in Shares

question 17

Multiple Choice

When the cost method of accounting for long-term investment in shares is employed,the receipt of a dividend on those shares is recorded as a credit to:

• A) the investment asset.
• B) dividend revenue.
• C) dividend declared.
• D) retained profits.

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Definitions:

1960s

Signifies the decade from 1960 to 1969, often noted for significant cultural, political, and technological changes worldwide.

Major Cases

Significant legal decisions or landmark judgments that have had a profound impact on law and society.

Supreme Court

The highest federal court in a country, typically having the ultimate authority in interpreting the constitution and laws.

Sherman Act

The federal antitrust law enacted in 1890 that prohibited monopolization and conspiracies to restrain trade.