Which of the Following Statements About Property Dividends Is FALSE

Multiple Choice

Which of the following statements about property dividends is FALSE?

A) A property dividend is a nonreciprocal transfer of nonmonetary assets.
B) A property dividend is also called a dividend in kind.
C) The accounting for a property dividend should be based on the carrying value (book value) of the nonmonetary assets transferred.
D) The accounting for a property dividend should be based on the fair value of the nonmonetary assets transferred.