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A credit balance in Retained Earnings is normal, indicating that the corporation's lifetime earnings exceed lifetime losses and dividends. Question 11 options: True False Question
A credit balance in Retained Earnings is normal, indicating that the corporation's lifetime earnings exceed lifetime losses and dividends. Question 11 options: True False Question 12 (1 point) Saved Three relevant dates for dividends includes: Question 12 options: Declaration date Date of record Payment date All of the above Question 13 (1 point) On the declaration date, the board of directors announces the dividend. Declaration of the dividend creates a liability for the corporation. Declaration is recorded by debiting Retained Earnings and crediting Dividends Payable. Question 13 options: True False Question 14 (1 point) Payment date is the date on which the dividend is actually paid to shareholders : Payment is recorded by debiting Dividends Payable and crediting Cash. Both assets and liabilities decrease. Question 14 options: True False Question 15 (1 point) Declaration date follows Date of record. Question 15 options: True False
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