Question: QUESTION 14 The overall effect of declaring and distributing a cash dividend includes each of the following except O Reducing total assets O Reducing stockholders'

QUESTION 14 The overall effect of declaring and distributing a cash dividend includes each of the following except O Reducing total assets O Reducing stockholders' equity Reducing the balance of the Retained Eamings account O Reducing Net Income for the period QUESTION 15 Which one of the following is not one of the primary financial statements? O Balance Sheet O Cash Flow Statement O Income Statement (e) Tax Return QUESTION 16 The gross profit rate represents: O Total sales revenue. O The percentage of sales revenue remaining after providing for the cost of the merchandise sold. O The percentage change in net sales from the prior period 0 Net income stated as a percentage of total sales revenue

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