1- A company had the following transaction : A stock dividend was declared and paid. The impact of this transaction on net income and retained earnings was?

a. a decrease in both accounts

b. no change in net income and a decrease in retained earnings

c. no change in both accounts

d. an increase in both accounts

2- A company had the following transaction: A cash dividend was declared and paid. The impact of this transaction on net income and retained earnings was

a. a decrease in both accounts

b. no change in net income and a decrease in retained earnings

c. no change in both accounts

d. an increase in both accounts

3-A company had the following transaction: Marketable securities were sold above cost. The impact of this transaction on net income and retained earnings was

a. a decrease in both accounts

b. no change in net income and a decrease in retained earnings

c. no change in both accounts

d. an increase in both accounts

4- A company had the following transaction: A fixed asset is sold for less than book value , The impact of this transaction on net income and retained earnings was

a. a decrease in both accounts

b. no change in net income and a decrease in retained earnings

c. no change in both accounts

d. an increase in both accounts

5- A company had the following transaction: Treasury stock was sold above cost. The impact of this transaction on net income and retained earnings was

a. a decrease in both accounts

b. no change in net income and a decrease in retained earnings

c. no change in both accounts

d. an increase in both accounts