Question: The date on which a cash dividend becomes a binding legal obligation is on the a) payment date. b) date of record. c) last day

The date on which a cash dividend becomes a binding legal obligation is on the

a) payment date.

b) date of record.

c) last day of the fiscal year-end.

d) declaration date.

Step by Step Solution

★★★★★

3.51 Rating (148 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

A cash dividend is a payment made from the corporations current earnings or a... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

On the last day of its fiscal year ending December 31, 2011, the Sedgwick & Reams (S&R) Glass Company completed two financing arrangements. The funds provided by these initiatives will allow the...

Q:

On the last day of its fiscal year ending December 31, 2013, the Sedgwick & Reams (S&R) Glass Company completed two financing arrangements. The funds provided by these initiatives will allow the...

Q:

On the last day of its fiscal year ending December 31, 2018, the Sedgwick & Reams (S&R) Glass Company completed two financing arrangements. The funds provided by these initiatives will allow the...

Q:

Fellows Inc., a publicly traded manufacturing company in the technology industry, has a November 30 fiscal year end. The company grew rapidly in its first 10 years and made three public offerings...

Q:

Discuss the performance of the stocks, how the company's performance impacts the stock performance, and their investment potential. Include at least one paragraph for each company. You can consult...

Q:

Bouter Corporation Limited (BCL) began operations in 1990 and in 2000 adopted a defined benefit pension plan for its employees. By January 1, 2010, the accrued benefit obligation was $510,000. The...

Q:

Fellows Inc., a publicly traded manufacturing company in the technology industry, has a November 30 fiscal year end. The company grew rapidly during its first 10 years and made three public offerings...

Q:

Fellows Inc., a publicly traded manufacturing company in the technology industry, has a November 30 fiscal year end. The company grew rapidly in its first 10 years and made three public offerings...

Q:

XYZ, Inc., is a retailer that sells kitchen appliances. On Dec. 30, 2015, a customer stopped by a store to order a $750 dishwasher and paid cash. XYZ will deliver the dishwasher to the customer on...

Q:

Anchen Medicine is a publicly-traded biotech company based in Irvine. It has 200 scientists and technicians besides a team of 20 middle managers and top executives. It awards stock options to all of...

Q:

The Robinson Company sells sports decals that can be personalized with a player's name, team name, and jersey number for $5 each. Robinson buys the decals from a supplier for $1.50 each and spends an...

Q:

Solve the following LPP using graphical method Maximize Z=13x+8y Subject x+2y259.....A 2x-y29.......B 2x+y

Q:

Find the horizontal l i m i t ( s ) o f the following function: f ( x ) = 9 x 3 - 6 x 2 - 1 0 x 4 - 1 0 x - 1 0 x 3 - 9 , 1 0 Separate answers b y a comma.

Q:

Let [ -1 0.5 A = -2.5 2 Find an invertible matrix S and a diagonal matrix D such that S-1 AS = D. S = D =

Q:

Find in the network shown using Norton's Theorem 4V 2 kn 12 V 4 kn 2 kn

Q:

Write a C++ program in which, read three c-string str from File. Now take input pat and rpat from user. Now your task is to find pat in str, replace pat with rpat in str if pat is found else display...

Q:

1. Distinguish between risk minimisation and risk aversion. 2. Give three examples of systematic and unique factors respectively that cause the returns on holding ordinary shares to vary over time.

Q:

The value of an audit for financial statement users lies primarily in the credibility it gives to the financial statements which are prepared by management. Explain briefly the three types of control...

Q:

chatgtp says differently. which answer is correct? To calculate the maturity date of a 120-day note signed on May 15, we count 120 days forward. Here's the breakdown: Month Days Remaining/Used May 16...

Q:

FINAL ACC2202 EXAM: 1. Stockholders of a corporation directly elect: a. the president of the corporation. b. the board of directors. c. the treasurer of the corporation. d. all of the employees of...

Q:

Which of the following statements is true? The date on which a cash dividend becomes a binding legal obligation is on the last day of the fiscal year. The date on which a cash dividend becomes a...

Q:

Questions and answer sheet are attached................. Quiz 3 Answer Sheet Name: Start: Multiple Choice Questions: 2 Points Each 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19...

Q:

Questions and answer sheet are attached................. Quiz 3 Answer Sheet Name: Start: Multiple Choice Questions: 2 Points Each 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19...

Q:

Questions and answer sheet are attached................. Quiz 3 Answer Sheet Name: Start: Multiple Choice Questions: 2 Points Each 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19...

Q:

QUESTION 1 On January 1, 2010, Zero Company obtained a $52,000, four-year, 6.5% installment note from Regional Bank. The note requires annual payments of $15,179, beginning on December 31, 2010. The...