Typically, once the Board of Directors of a firm announces that it had a strong earnings performance and that the firm is going to make a cash distribution to shareholders on file, what would be the net effect on the firm's balance sheet relative to the cash distribution payout?

A$)$ The firm's balance sheet will indicate that cash balance will increase whilst the firm's liability account will decrease.

B$)$ The firm's cash account will decrease whilst the firm's liability account will also increase.

C$)$ The firm's cash account balance will decrease by the cash distribution announced by the Board whilst the retained earnings decreases based on the cash distribution amount.

D$)$ The firm's cash account balance will increase by the cash distribution announced by the Board whilst the retained earnings decreases based on the cash distribution amount.

E$)$ None of the above

The value of a firm is determined by$.$

A$)$ The workers who perform daily operations

B$)$ The management strategic decisions

C$)$ The cash flows to the firm and the risk to the assets

D$)$ The equity and debt markets

E$)$ None of the above