Which of the following is a policy of a firm paying out only fands that are left over ater all positive NPY projects are tintied? A. Clientele effect policy 8. Bird-in-the-hand theory C. Dividend irrelevance theorem D. Residual dividend model Which type of bankruptcy involves a business liquidating their assets? A. Chapter 9 B. Chapter 11 C. Chapter 7 D. Chapter 13 Which of the following firms is more likely to use extraordinary dividends? A. Firms with neither cyclical nor stable sales B. One with stable sales C. Firms with either cyclical or stable sales D. One with cyclical sales QUESTION 23 When does a dividend become a firm obligation? A. When the firm pays them B. When the firm records them C. On the ex-dividend date D. When the firm declares them As the number of days until the next dividend decreases, what will happen to the present value of the stock? A. It will stay the same. B. It will increase, C. One cannot determine what will happen to the price of the stock in this situation, D. It will decrease