A modification of the multiple-channel system is the ________ system

The difference in the value of a piece of land with a man-made lake and the value of the land if the lake loses all of its water is referred to as

A. impairment of the asset B. loss on the value of the asset C. gain on the asset D. stupidity on the part of the company that owns the land

The closing entry made for dividends would include:

a. a debit to Dividends and a credit to net income b. a debit to Retained Earnings and a credit to Dividends c. a debit to net income and a credit to Dividends d. a debit to Dividends and a credit to Retained Earnings