Managers tend to use more direct supervision and highly centralized decision making for control in less technologically advanced countries

On June 30, the board of directors of Dive Inn, Inc., declared a cash dividend of $0.20 per share on its $2 par value, 100,000 common shares outstanding. The date of record is the close of business on July 7, payable July 31. The entry to record the declaration of the dividend on June 30 includes ______.

a. debit Dividends $20,000 b. debit Dividends Payable $20,000 c. credit Dividends Payable $2,000 d. credit Cash $200,000 e. credit Dividends Payable $20,000 f. There is no entry made on June 30. g. credit Cash $20,000 h. debit Dividends $200,000

Kate completed a life insurance application. Her agent forwarded the application to the insurer. The insurer issued the policy. The agent delivered the policy to Kate. When Kate received the policy, she paid the premium. When was the offer accepted in this case?

(a) when Kate completed the application (b) when the agent forwarded the application to the insurer (c) when the insurer issued the policy (d) when Kate received the policy and paid the first premium