Multiple Choice
Arco Corporation declared a cash dividend on June 2 of $6 per common share.The company has 2,000 shares of common stock authorized, 1,000 shares issued, and 200 in the treasury.The entry to record the declaration of the cash dividend increases
A) a liability.
B) an asset.
C) an expense.
D) a stockholders' equity account.
Correct Answer:
Verified
Correct Answer:
Verified
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