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NEW QUESTION: 1
An entity has made all necessary adjusting entries and is now closing its accounts for the period. Dividends of US 1 ...x!.000 were declared and distributed during the year. The entry to close the dividends account would be
A. Dividends US $30,000 Retained earnings US $30,000
B. Income Summary US $30,000 Dividends US $30,000
C. Retained earnings US $30,000 Dividends US $30,000
D. Dividends US $30,000 Income Summary US $30,000
Answer: C
Explanation:
Assuming an account entitled "dividends" or "dividends declared" is debited when dividends payable is credited on the declaration date, it must be closed at the end of the period. The balance in this account is closed directly to retained earnings. The effect of declaring and paying dividends is to reduce retained earnings, so the entry is a debit to retained earnings and a credit to dividends.

NEW QUESTION: 2
In an environment where most IT services have been outsourced, continuity planning is BEST controlled by:
A. IT management,
B. outsourced service provider management
C. business management.
D. continuity planning specialists.
Answer: D

NEW QUESTION: 3
Auxiliary panels are used in custom dashboards to display the following"
A. All of the above
B. Static Image: For defining an uploaded image
C. HTML: For defining labels, hyperlinks, and other HTML-based text
D. URL Image: For defining an image from a URL
Answer: C