Which of the following statements is FALSE?
A) From an accounting perspective, dividends generally reduce the firm's current (or accumulated) retained earnings.
B) The way a firm chooses between paying dividends and retaining earnings is referred to as its payout policy.
C) Most companies that pay dividends pay them semiannually.
D) Occasionally, a firm may pay a one-time, special dividend that is usually much larger than a regular dividend.
Answer: C
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Managers spend the majority of their time outside their offices in the ________ style of management.
What will be an ideal response?
A law firm billed a client $3000 for work performed in the current month. Which of the following general journal entries will the firm make to record this transaction?
A. Debit Accounts Receivable, $3000; credit Legal Fees Revenue, $3000. B. Debit Cash, $3000; credit Accounts Receivable, $3000. C. Debit Accounts Receivable, $3000; credit Unearned Legal Fees Revenue, $3000. D. Debit Cash, $3000; credit Unearned Legal Fees Revenue, $3000. E. Debit Legal Fees Revenue, $3000; credit Accounts Receivable, $3000.
On July 1, 2018, Sanchez Company purchased merchandise inventory for $350,000 by signing a note payable. The note is for 6 months and bears interest at a rate of 8%. Prepare the journal entry for this transaction, using a perpetual inventory system. Omit explanation.
What will be an ideal response?
The one-group pretest-posttest design may be symbolized as O1 X2 O2. In this design, a group of test units is measured ________
A) once B) twice C) not at all D) none of the above