Question 19 3 pts Dividends: are payments by stockholders to the company. O O O O represent a distribution by the company to owners. are a reduction in capital stock. All of the above are correct. None of the above is correct. Question 20 3 pts There are two formal records used to record the effects of transactions on the entity, the journal and the ledger. Select the best response below: The ledger is a chronological, transaction-by-transaction record of the effects of events on the entity. The journal is the record in which transactions are initially recorded. The account balances in the journal are used to prepare a trial balance. In the journal, entries are made with credits first and debits offset to the right c Only (a) and (c) are correct. Question 21 3 pts Which group of accounts contains only those which normally have a debit balance? accounts receivable; notes payable; equipment common stock; cash; retained earnings. cash; inventory; insurance expense. notes receivable; accounts payable; rent expense. dividends; retained earnings; equipment. Question 22 3 pts The balance sheet shows: dividends distributed to stockholders. operating expenses for the period. earnings per share for the period. claims owners have against assets. sales revenue u Question 23 3 pts Which one of the following sections appears in a statement of Cash Flows? Selling Activities Buying Activities Shipping Activities Investing Activities Trading Activities