Question: The date on which a cash dividend becomes a binding legal obligation is on the a. payment date. b. last day of the fiscal year.

The date on which a cash dividend becomes a binding legal obligation is on the a. payment date. b. last day of the fiscal year. c. date of record. d. declaration date. When the market rate of interest o bonds is higher than the contract rate, the bonds will sell at a. their face value b. a discount c. a premium d. their maturity value

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