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Which of the following statements is true? I. Dividends may be paid in cash or stock II. A cash dividend reduces a corporation's cash and

Which of the following statements is true?

I. Dividends may be paid in cash or stock

II. A cash dividend reduces a corporation's cash and retained earnings

III. A stock dividend does not affect corporation's cash or equity

a. I and II only

b. I and III only

c. I, II, and III

d. None of the above

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