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7. Which of the following statements about dividends is not true? a. Dividends represent a sharing of corporate profits with owners. b. Both stock dividends

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7. Which of the following statements about dividends is not true? a. Dividends represent a sharing of corporate profits with owners. b. Both stock dividends and cash dividends reduce retained earnings c. Cash dividends paid to stockholders reduce net income d. Dividends are declared at the discretion of the board of directors

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