Stock dividends distributable are classified as a liability on the statement of financial position. Select one: True False Dividends on cumulative preferred shares a. must be paid each year. b. accumulate over the life of the shares and are paid on retirement. c. if in arrears, must be calculated like compound interest. d. must be paid before dividends may be paid on common shares. The dollar amount of a cash dividend to be paid is determined on the date of a. record. b. declaration. c. declaration or date of record, whichever is earlier. d. payment. Shareholders' equity is generally classified into two major categories: a. retained earnings and accumulated other comprehensive income. b. contributed surplus and retained earnings. c. earned capital and contributed capital. d. contributed capital and donated capital. Under IFRS, the Statement of Changes in Shareholders' Equity must include a. share capital and contributed surplus only. b. share capital, accumulated other comprehensive income, contributed surplus, and retained earnings. c. retained earnings, share capital, and accumulated other comprehensive income. d. share capital and retained earnings only