Question: When a property dividend is declared, the reduction in retained earnings is for: a. The fair value of the property on the date of distribution.

When a property dividend is declared, the reduction in retained earnings is for:

a. The fair value of the property on the date of distribution.

b. The fair value of the property on the date of declaration.

c. The book value of the property on the date of distribution.

d. The book value of the property on the date of declaration.

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