Question 14 (1 point) Which of the following is generally NOT TRUE of stock repurchases? Once a firm announces a share repurchase plan, they are legally obligated to repurchase all the shares stated in the plan within a specified time frame. A share repurchase is the same as a cash dividend with one exception. Shareholders can decide how much cash they want to receive by the number of shares they choose to sell. Firms announce share repurchase plans in advance, including the number of shares they plan to repurchase an time frame for the repurchases. Repurchased stock can be used in takeovers or resold to raise cash as needed