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ACC100 2026 LATEST QUESTIONS
AND ANSWERS| ACE YOUR
GRADES.
1. What are "Treasury Shares"? - correct answer -Shares that
have been repurchased but not yet cancelled
2. Can preferred shareholders vote in company decisions? -
correct answer -No, only common shareholders can
3. Which type of shareholders gets paid dividends first? - correct
answer -Preferred Shareholders
4. Shares issued for non-cash considerations are which type of
shareholders? - correct answer -Preferred
5. How would the journal entry look when you sell shares for non-
cash considerations? - correct answer -+Building
6. +Preferred Shares
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7. What are the three dates associated with cash dividends? -
correct answer -Date of declaration, record, and payment
8. What is the date of declaration? - correct answer -Statement
of how much will be paid in dividends
9. When is a company liable to pay dividends to its shareholders?
- correct answer -On the date of declaration
10. What is the journal entry on the date of record - correct
answer -No Entry is recorded
11. What is the date of record? - correct answer -A company
notes how much each shareholder will be paid in dividends
12. What is the date of payment? - correct answer -A company
pays dividends to its shareholders
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13. What is the name of the liability account that is created on
the date of declaration? - correct answer -Cash Dividends
Payable
14. What are stock dividends? - correct answer -A company
pays dividends by giving shareholders more shares in the
company instead of cash
15. How do you record stock dividends as a journal entry? -
correct answer --Retained Earnings (through dividends)
16. +Common Stock Dividends Distributable
17. What is "Common Stock Dividends Distributable"? - correct
answer -When a company pays dividends through shares, you
add it to the shares account as if you sold shares
18. What is a stock split? - correct answer -The creation of
additional shares, reducing the average price per share
ACC100 2026 LATEST QUESTIONS
AND ANSWERS| ACE YOUR
GRADES.
1. What are "Treasury Shares"? - correct answer -Shares that
have been repurchased but not yet cancelled
2. Can preferred shareholders vote in company decisions? -
correct answer -No, only common shareholders can
3. Which type of shareholders gets paid dividends first? - correct
answer -Preferred Shareholders
4. Shares issued for non-cash considerations are which type of
shareholders? - correct answer -Preferred
5. How would the journal entry look when you sell shares for non-
cash considerations? - correct answer -+Building
6. +Preferred Shares
, Page | 2
7. What are the three dates associated with cash dividends? -
correct answer -Date of declaration, record, and payment
8. What is the date of declaration? - correct answer -Statement
of how much will be paid in dividends
9. When is a company liable to pay dividends to its shareholders?
- correct answer -On the date of declaration
10. What is the journal entry on the date of record - correct
answer -No Entry is recorded
11. What is the date of record? - correct answer -A company
notes how much each shareholder will be paid in dividends
12. What is the date of payment? - correct answer -A company
pays dividends to its shareholders
, Page | 3
13. What is the name of the liability account that is created on
the date of declaration? - correct answer -Cash Dividends
Payable
14. What are stock dividends? - correct answer -A company
pays dividends by giving shareholders more shares in the
company instead of cash
15. How do you record stock dividends as a journal entry? -
correct answer --Retained Earnings (through dividends)
16. +Common Stock Dividends Distributable
17. What is "Common Stock Dividends Distributable"? - correct
answer -When a company pays dividends through shares, you
add it to the shares account as if you sold shares
18. What is a stock split? - correct answer -The creation of
additional shares, reducing the average price per share
