Question 6 (3 points)

When issuing cash dividends, the board of directors commits the corporation to a binding legal obligation on:

A the declaration date.
B	the date of record.
C	the date of payment.
D	none of these answer choices are correct.

Question 7 (3 points)

A stock dividend results in

A	a decrease in retained earnings.
B	an increase in paid-in capital.
C	a decrease in stockholders equity and total assets.
D	both a decrease in retained earnings and an increase in paid-in capital.

Question 8 (3 points)

Upon receiving a stock dividend

A	a stockholder owns more shares.
B	a stockholders interest has increased.
C	a stockholders interest has not changed.
D	both a stockholder owns more shares and a stockholders interest has not changed.