Which of the following statement is false?

		Dividends are not an expense of the company.
		Dividends are defined in s 6(1) of ITAA 1936.
		All shareholders are automatically entitled to franking credits attached to a franked distribution of profit.
		A dividend includes any amount credited by a company to its shareholders as shareholders.

Solutions

Expert Solution

Dividends are an expense or loss for the company. It is given to shareholders as an part of profit earned.

Dividends are defined in section 44 of Income Tax Assessment Act (ITAA) 1936.

Dividend includes any amount that credited by company to its shareholders.

So,the statement " Dividends are defined in s 6(1) of ITAA 1936" is false.

ekkarill92 answered 2 years ago

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