The questions are indicated on the picture.

PROBLEM 1: TRUE OR FALSE 1. According to IFRIC 17, the liability to pay cash dividends is recognized at the date when the entity's management declares the dividends. 2. Generally, once declared, a cash dividend on ordinary shares becomes a liability of the corporation. 3. Preference dividends in arrears should not be accrued as a liability. 4. Preference dividend declared but not yet paid should be disclosed only in the footnote. 5. When a corporation fails to declare dividends on cumulative preferred stock, such dividends are recorded as a liability and require payment in the future before any dividends may be paid to common stockholders. 6. Only outstanding shares are entitled to dividends. 7. Property dividends payable is initially measured at either the fair value or the carrying amount of the non-cash assets at the date of declaration 8. The property dividends payable is adjusted for changes in fair value at the end of each reporting period and also on settlement date. 9. The changes in the fair value of the property dividends payable are recognized as gain or loss, directly in retained earnings. 10. A gain or loss that is recognized in profit, or loss may result from the settlement of property dividends payable