1.In terms of cash dividends the date of declaration is when a firm records its liability for a dividend that has been declared. T F

2.A deficit could result in retained earnings when a firm pays dividends greater than profits earned in prior years. T F

3.Incorporation laws my prohibit companies paying dividends before deficits are eliminated from retained earnings. T F

4.Stock dividends never have an impact on the market price of stock. T F