The Record Date Is the Date on Which the Board

question 77

True/False

The record date is the date on which the board of directors announces the next quarterly cash dividend.

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Definitions:

Journal Entry

A record in accounting that documents a business transaction and its effect on various accounts, used to keep track of financial events by debits and credits.

Residual Value

The estimated amount that an asset will realize upon its sale at the end of its useful life.

Retrospective Restatement

The process of revising previously issued financial statements to correct errors or to adjust for changes in accounting policies.