Billingsley United declared a $0.20 a share dividend on Thursday, October 16. The dividend will be paid on Monday

A reverse stock split is defined as:    A.  an increase in the number of shares outstanding that does not affect owners' equity. B.  a firm buying back existing shares of its stock on the open market. C.  a firm selling new shares of stock on the open market. D.  a decrease in the number of shares outstanding that does not affect owners' equity. E.  a decrease in both the number of shares outstanding and the price per share. Refer to section 17.8

16.

Which one of the following statements related to cash dividends is correct?    A.  Extra cash dividends cannot be repeated in the future. B.  A dividend is never a liability until it has been declared. C.  If a firm has paid regular quarterly dividends for at least five consecutive years it is legally obligated to continue doing so. D.  Regular cash dividends reduce paid-in capital. E.  The dividend yield expresses the annual dividend as a percentage of net income. Refer to section 17.1

17.

Billingsley United declared a $0.20 a share dividend on Thursday, October 16. The dividend will be paid on Monday, November 10 to shareholders of record on Friday, October 31. Which one of the following is the ex-dividend date?    A.  Tuesday, October 28 B.  Wednesday, October 29 C.  Thursday, October 30 D.  Wednesday, November 5 E.  Thursday, November 6 Refer to section 17.1

18.

Taylor's Tools declared a $0.48 per share dividend on Friday, March 7. The dividend will be paid on Monday, April 7. The ex-dividend date is Tuesday, March 18. What is the record date?    A.  Friday, March 14 B.  Monday, March 17 C.  Wednesday, March 19 D.  Thursday, March 20 E.  Friday, March 21 Refer to section 17.1