true or fals

1. THE PAR VALUE OF COMMON STOCK IS EQUIVALENT TO ITS MARKET VALUE ON THE DAY THE STOCK IS ISSUED. 2. DIVIDENDS DECREASE BOTH THE ASSETS AND THE CONTRIBUTED CAPITAL OF A CORPORATION, 3. INCOME INCREASES STOCKHOLDERS' EQUITY BY INCREASING THE RETAINED EARNINGS ACCOUNT. 4. THE STOCKHOLDERS'EQUITY SECTION OF A BALANCE SHEET LISTS COMMON STOCK FIRST, FOLLOWED BY PREFERRED STOCK SECOND AND RETAINED EARNINGS LAST 5. THE LEGAL LIABILITY FOR THE PAYMENT OF DIVIDENDS IS CREATED ON THE DATE OF RECORD 6. DIVIDENDS IN ARREARS ON CUMULATIVE PREFERRED STOCK ARE NOT A LIABILITY TO THE CORPORATION 7. STOCK DIVIDENDS HAVE NO EFFECT ON TOTAL STOCKHOLDERS' EQUITY 8. THE STOCK DIVIDEND DISTRIBUTABLE ACCOUNT IS A CURRENT LIABILITY 9. TREASURY STOCK DOES NOT RECEIVE CASH DIVIDENDS NOR DOES IT ENTITLE ITS OWNERS TO VOTE 10. RESTRICTIONS ON RETAINED EARNINGS ARE RECORDED BY DEBITING RETAINED EARNINS APPROPRIATED AND CREDITING RETAINED EARNINGS. 11. CORRECTONS TO THE BEGINNING BALANCE OF RETAINED EARNINGS FOR ERRORS OF AN EARLIER PERIOD ARE CALLED PRIOR PERIOD ADJUSTMENTS 12. BOTH STOCK DIVIDENDS AND A STOCK SPLIT DECREASES RETAINED EARNINGS AND INCREASES THE COMMON STOCK ACCOUNT