If a 10% stock dividend is declared, an amount equal to the par value of the shares to be distributed should be charged to the retained earnings account
a. True
b. False
Indicate whether the statement is true or false
False
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At the time that an AP/CD process makes payment for goods or services, the process generally follows which order."
a. select and record payments, prepare proposed payments, issue and record disbursements b. prepare proposed payments, issue and record disbursements, select and record payments c. issue and record disbursements, select and record payments, prepare proposed payments d. prepare proposed payments, select and record payments, issue and record disbursements
The U.S. government often uses Dutch auctions to procure supplies
Indicate whether the statement is true or false
The entry to apply factory overhead to jobs includes:
a. a debit to Applied Factory Overhead. b. a debit to Work in Process. c. a credit to Work in Process. d. a debit to Cost of Goods Sold.
Which pair of accounts follows the rules of debit and credit in the opposite manner?
A) Prepaid Insurance and Dividends B) Advertising Expense and Land C) Dividends and Service Revenue D) Interest Payable and Common Stock