Question: 1.An entity declared a cash dividend on its common stock in December Year1, payable in January Year 2. Retained earnings will a.Increase on the date

1.An entity declared a cash dividend on its common stock in December Year1, payable in January Year 2. Retained earnings will

a.Increase on the date of declaration.

b.Not be affected on the date of declaration.

c.Not be affected on the date of payment.

d.Decrease on the date of payment.

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