A Liquidating Dividend

question 52

Multiple Choice

A liquidating dividend:

• A)Occurs only when a company is going out of business.
• B)Occurs when a corporation pays a dividend that exceeds the balance in the retained earnings account.
• C)Is an expense to the corporation.
• D)Occurs only when the corporation has a loss for the year.

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Definitions:

Stanford-Binet IQ

An individually administered intelligence test that was first revised from the Binet-Simon Scale and is used to assess intellectual abilities and cognitive strengths and weaknesses.

Adaptive Behavior

The collection of conceptual, social, and practical skills that individuals have learned to be able to function in their everyday lives.

Mildly Retarded

This term is considered outdated and offensive; it previously referred to individuals showing below-average intellectual functioning and adaptive behavior, now more appropriately referred to as having mild intellectual disability.

Binet-Simon Scale

An early psychological test developed to measure intelligence by assessing verbal abilities, memory, attention, and problem-solving skills.