Study the following case/situation and express your opinion :
DIAMOND Co. Ltd. is considering to declare Interim Dividend.
- In how many days of the declaration it should transfer the funds to Dividend Account?
- In how many days it must pay it to shareholders?
- In how many days of the declaration it must transfer the funds to the Unpaid Dividend A/c?
- The funds should be transferred to the Dividend Account within 5 days from the date of declaration of interim dividend.
- The interim dividend must be paid to the shareholders within 30 days from its declaration.
- The unpaid dividend must be transferred to Unpaid Dividend A/c within 37 days from its declaration.
Concept: Interim Dividend
Is there an error in this question or solution?