Today the board has declared a dividend of USD 1 million for the last year profit achieved. Which one is the correct answer to record the dividend?

The answer is C. record the entry at the time of payment of dividend.

 

the answer is  C. No entry until dividend is payed 

 

No entry until dividend is paid.

Answer is C. Since it was declared but not paid. you only record it when it gets paid out.

Option B is correct for the said question

the answer is A. CR Dividend payable and DR dividend expense of last year statement.

The Dividend is declared for the last year. I Preferred to book the Dividend in the Last year.

Dr. Retained Earnings

Cr. Dividend Payable

C, since only declared. You recognize upon payment.

The Board has serious goals and objectives for the company

I think all the options except A are the answers for the question . Because what it matters is the country in which the company registered and the company or Tax law it adopted. Option B is for GAAP principle accepting countries and those who has said option C and state until paid is IFRS standard . Therefore, option B & C are answers .