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When dividends are declared in one fiscal year and paid in the next fiscal year, the liability for the dividend should be recorded as of the

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solution


Question

19. When dividends are declared in one fiscal year and paid in the next fiscal year, the liability for the dividend should be recorded as of the;A. Date the dividend is declared.;B. Last day of the fiscal year.;C. Date of record.;D. Date of payment.

 

Paper#32288 | Written in 18-Jul-2015

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