Multiple Choice
Select the one term that best fits each definition
-An amount earned by a corporation and not yet distributed to stockholders.
A) board of directors
B) credit memorandum
C) debit memorandum
D) declaring a dividend
E) dividends
F) general journal
G) purchases allowance
H) purchases return
I) retained earnings
J) sales allowance
K) sales return
Correct Answer:

Verified
Correct Answer:
Verified
Q20: Select the one term that best fits
Q21: The purchase of supplies on account results
Q22: Transactions that cannot be recorded in a
Q23: Most corporations pay dividends by writing checks
Q24: Credit allowed for part of the purchase
Q26: Select the one term that best fits
Q27: Select the one term that best fits
Q28: A return of merchandise to the vendor
Q29: Select the one term that best fits
Q30: A customer notifies the vendor that purchased