A sense of ethics is determined by a number of social, cultural, and religious factors; this sense influences us beginning early in adulthood.

The cost of units sold is recorded by debiting Cost of Goods Sold and crediting ________

A) Finished Goods Inventory B) Sales Revenue C) Work-in-Process Inventory D) Wages Payable

Which of the following statements is FALSE?

A. Occasionally, a firm may pay a one-time, special dividend that is usually much larger than a regular dividend. B. Most companies that pay dividends pay them semiannually. C. From an accounting perspective, dividends generally reduce the firm's current (or accumulated) retained earnings. D. The way a firm chooses between paying dividends and retaining earnings is referred to as its payout policy.