Which of the following statements regarding the date of a cash dividend declaration is not accurate:?

A the dividend can be rescinded once it has been declared. B. The corporation is committed to a legal, binding obligation. C. the board of directors formally authorizes the cash dividend. D. A liability account must be increased.|||Since (A) and (B) directly contradict each other, one of them is the correct answer. In this case the answer is (A). Although stock dividends may be rescinded after they are declared, cash dividends may not.