Which of the Following Statements Is True

question 154

Multiple Choice

Which of the following statements is true?

• A)Profits distributed to the creditors are called dividends.
• B)The balance sheet shows the assets,liabilities,and profits of a company.
• C)Dividends are an expense and are reported on the income statement as a deduction from net income.
• D)The income statement reports the revenues and expenses of a company.

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Definitions:

Veracity

Refers to the adherence to the truth and accuracy in actions and statements.

Beneficence

The ethical principle that involves acting in ways that promote the well-being and welfare of others.

Autonomy

The quality or state of being self-governing or independent; the ability to make decisions for oneself.

Legal Precedent

A legal case that establishes a principle or rule that is followed by other courts in future cases involving similar issues or facts.