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    statistics40987's Avatar
    statistics40987 Posts: 20, Reputation: 1
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    #1

    Dec 16, 2012, 11:31 AM
    Accounting help!
    1) The financial statements of a corporation that failed during the current year to pay any dividends on its cumulative preferred stock should:

    a) Include the amount of the omitted dividends among its current liabilities.
    b) Include a footnote disclosing the amount of the dividends in arrears.
    c) Show the amount of the omitted dividends as a deduction from retained earnings.
    d) List the omitted dividends as a long-term liability.
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    Dec 17, 2012, 02:49 AM
    What do you think?
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