Which of the Following Supports the "Bird-In-The-Hand" Dividend Theory

Multiple Choice

Which of the following supports the "bird-in-the-hand" dividend theory?

A) Investors prefer dividends to capital gains because of the time value of money.
B) Increasing a firm's dividends transfers risk and ownership from the current shareholders to new owners.
C) Investment decisions are not influenced by dividend policy.
D) Capital mix decisions are not influenced by dividend policy.