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45) Preferred stock: A) Is always recorded as a liability. B) is always recorded as part of stockholders' equity. C) Can have features of both

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45) Preferred stock: A) Is always recorded as a liability. B) is always recorded as part of stockholders' equity. C) Can have features of both liabilities and stockholders' equity. D) is not included in either liabilities or stockholders' equity. 46) B) Decreases stockholders' equity. D) Increases stockholders' equity. 46) Retained earnings: A) Has a normal debit balance. C) is equal to the balance in cash. 47) - B) Record Date D) Never 48) - 47) We credit dividends payable on: A) Payment Date C) Declaration Date 49) 48) The issuance of common stock is classified in the statement of cash flows as a(n) A) Operating Activity B) Investing Activity C) Financing Activity D) Noncash Activity 49) The issuance of a notes payable is classified in the statement of cash flows as a(n): A) Operating Activity B) Investing Activity C) Financing Activity D) Noncash Activity 50) The indirect and direct methods: A) Are used by companies about equally in actual practice. B) Affect the presentations of operating, investing, and financing activities, C) Arrive at different amounts for net cash flows from operating activities. D) Are two allowable methods to present operating activities in the statement of cash flows

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