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Dividend policy is -------------- when there are no taxes or other imperfections because shareholders can effectively undo the firms dividend strategy. 1. None of these

Dividend policy is -------------- when there are no taxes or other imperfections because shareholders can effectively undo the firms dividend strategy.

	1.	None of these
	2.	relevant
	3.	irrelevant
	4.	Sometimes relevant otherwise irrelevant

Q11

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