When dividends are declared in one fiscal year and paid in the next fiscal year, the liability for the dividend should be recorded as of the:

When dividends are declared in one fiscal year and paid in the next fiscal year, the liability for the dividend should be recorded as of the: 



A. Date the dividend is declared.
B. Last day of the fiscal year.
C. Date of record.
D. Date of payment.





Answer: A


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