A Liability for a Dividend Does Not Exist Until the Directors

question 185

True/False

A liability for a dividend does not exist until the directors declare a dividend.

---

Definitions:

Olfactory

Pertains to the sense of smell.

Tactile

Relating to the sense of touch or sensations experienced through physical contact.

Bilaterally

Pertaining to, involving, or affecting both sides of the body or both members of a paired set.

Language Deficits

Impairments or deficits in the ability to use or comprehend spoken, written, or other language symbols.