Answer Happy

These are legal rules governing the behavior of Boards of
Directors when it comes to the dividend decision EXCEPT?
a) Dividends may only be paid out of profit both past and
present.
b) Dividends per share cannot exceed earnings per share in
any given fiscal year.
c) Dividends cannot be paid where the payment will cause
the firm to become insolvent.
d) Dividends cannot be paid out of capital.
e) None of the above