Question
The direct effect of a property dividend is to reduce retained earnings by the fair value of the property distributed with no income effect. However,
The direct effect of a property dividend is to reduce retained earnings by the fair value of the property distributed with no income effect. However, prior to the effect of the dividend being recorded, the property is adjusted to fair value.
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Smith and Roberson Business Law
Authors: Richard A. Mann, Barry S. Roberts
15th Edition
1285141903, 1285141903, 9781285141909, 978-0538473637
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