Advanced Accounting Ch 11

Advanced Accounting Ch 11

11th - 12th Grade

10 Qs

quiz-placeholder

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Advanced Accounting Ch 11

Advanced Accounting Ch 11

Assessment

Quiz

Business

11th - 12th Grade

Medium

Created by

Carrie Smith

Used 3+ times

FREE Resource

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A corporation has no obligation to distribute retained earnings to stockholders until the board of directors has declared a dividend.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The total amount of dividends to be paid are allocated first to common stock then to preferred.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

No entry is recorded on the date of record

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A buyback often occurs when a corporation believes that its stock is overvalued by the stock market

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Marketable securities are an asset of a corporation

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Dividends revenue is classified as other revenue on the income statement

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Declared an annual cash dividend on common and preferred stock

Debit Dividends, credit dividends payable

debit dividends payable, credit dividends

debit dividends, credit cash

credit dividends, debit cash

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