Despot Declared a Property Dividend to Give Marketable Securities to Its

question 33

Multiple Choice

Despot declared a property dividend to give marketable securities to its common stockholders. The securities had cost Despot $7 million and currently have a fair value of $16 million. Which of the following would be included in recording the property dividend declaration?

• A)Increase in a liability for $16 million.
• B)Decrease in retained earnings for $7 million.
• C)Decrease in marketable securities by $16 million.
• D)All of these are correct.

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