Multiple Choice
On September 1, Year 1, Orville Corporation has unrestricted Retained Earnings of $600,000, Appropriated Retained Earnings of $400,000, Cash of $850,000, and Accounts Payable of $50,000. What is the maximum amount that can be used for cash dividends?
A) $850,000
B) $600,000
C) $800,000
D) $450,000
Correct Answer:
Verified
Correct Answer:
Verified
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