The Effect of the Declaration of a Cash Dividend by the Board

Short Answer

The effect of the declaration of a cash dividend by the board of directors is to
$\quad$$\quad$ Increase $\quad$$\quad$$\quad$ $\quad$ Decrease
a. Shareholders' equity $\quad$ Assets
b. Assets $\quad$$\quad$$\quad$$\quad$$\quad$ Liabilities
c. Liabilities $\quad$$\quad$$\quad$$\quad$ Shareholders' equity
d. Liabilities $\quad$$\quad$$\quad$$\quad$$\quad$ Assets