Im not exactly sure what "Declare dividends on outstanding shares" and "Repurchase common shares for cash" mean and, therefore, wasn't able to answer the question. I don't need the complete definitions of each, but please explain why the answer is b and not a by showing me the journal entries for each. To me, both of the options would decrease assets and O.E.

Which of the following will cause assets and owner's equity to decrease? Declare dividends on outstanding shares X Repurchase common shares for cash