Current Attempt in Progress Which of the following enhancing characteristics is achieved if a third party, with sufficient understanding, would arrive at a similar result to that used by the company? comparability understandability timeliness verifiability When the board of directors declares and pays a $500 dividend, which of the following would be included in the resulting journal entry? Dr. Dividends Declared, Cr.Cash Dr. Cash, Cr. Retained Earnings Dr. Retained Earnings, Cr. Dividends declared Dr. Cash, Cr. Dividends payable Which of the following would normally be recorded with an adjusting entry? Sales on account Payment for supplies bought on account Utilities expense Depreciation expense Which of the following statements about the trial balance is not true? Debit balances must equal credit balances. It includes only assets, liability and equity accounts. It is useful for detecting errors. It is an important step in the accounting cycle. The closing process includes the following journal entries: Dr. Revenues, Cr. R/E. Dr. R/E, Cr. Expenses. Dr. R/E, Cr. Dividends Declared. All of the above. None of the above