9) The date on which a cash dividend becomes a binding legal obligations on the a declaration date: b. date of record c. payment date d. last day of the fiscal year-end. 10) Ace Inc. has 10,000 shares of 4%, $100 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock outstanding at December 31.2020. What is the annual dividend on the preferred stock? a. $40 per share b. $40,000 in total c. $4.000 in total d. $0.40 per share 11) The relationship between current assets and current liabilities is a. useful in determining income. . useful in evaluating a company's liquidity. s. called the matching principle. 8. useful in determining the amount of a company's long-term debt. 2) Stockholders of a corporation directly elect the president of the corporation. the board of directors. the treasurer of the corporation. all of the employees of the corporation