Is my answers correct for these statements?

Instruction: Write T if the statement is TRUE; F if the statement is FALSE.

T 1.) Dividends can be declared only if there is a credit balance in Retained Earnings.

T 2.) A journal entry is not needed in recording the share split because the total par value and other components of Share Capital and Shareholders' Equity do not change.

F 3.) The par value per share decreases with a reverse share split.

T 4.) Corporations usually resort to property dividends if they want to distribute dividends without using cash, perhaps because they do not have enough cash on hand, or do not want to dilute the company's ownership with additional shares of stocks distributed as share dividends.

F 5.) With share split, the corporation will not be able to increase the number of outstanding shares.

T 6.) No cash dividends are paid on treasury shares.

T 7.) A share dividend affects neither the assets nor the liabilities of the firm.

T 8.) Property dividends may be in the form of merchandise such as grocery items in the case of a supermarket, a condo unit in the case of a real estate company, or a car in the case of an automobile manufacturer.

F 9.) If the shares distributed are shares of the company making the dividend payment, it is categorized as property dividends.

F 10.) Dividend declaration is not a discretion of the BOD.

T 11.) An appropriation or restriction of Retained Earnings will result in two Retained Earnings account instead of one.

F 12.) A 2-for-1 share split would cause the value of each share to be worth only half of what it was before the split.

F 13.) The liability for a dividend is recorded on the date of record.

T 14.) The primary purpose of a share split is to reduce the market price of the stock per share.

T 15.) A Retained Earnings Statement is required for internal use only.