Which of the following statements is CORRECT? a. Accounts receivable are reporte

Question

Which of the following statements is CORRECT?

a. Accounts receivable are reported as a current liability on the balance sheet.
b. If a company issues new long-term bonds to purchase fixed assets during the current year, this will increase both its reported current assets and current liabilities at the end of the year.
c. If a company pays more in dividends than it generates in net income, its retained earnings as reported on the balance sheet will decline from the previous year's balance.
d. Dividends paid reduce the net income that is reported on a company

Explanation / Answer

d. Dividends paid reduce the net income that is reported on a company

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