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When a firm declares dividends: A. Net income decreases and cash decreases B. Retained earnings decreases and cash increases C. Net income decreases and dividend

When a firm declares dividends:

A.

Net income decreases and cash decreases
B.

Retained earnings decreases and cash increases
C.

Net income decreases and dividend payable increases
D.

Retained earnings decreases and dividend payable increases
E.

None of the above

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