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Which of the following statements about why companies choose not to pay cash dividends is...

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Accounting

Which of the following statements about why companies choose not to pay cash dividends is (are) true? Select one:

a. The corporation does not have sufficient retained earnings.

b. All of these statements are true.

c. The corporation does not have sufficient cash.

d. The board and management prefer to reinvest all net income for future growth.

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