From an Investor's Point of View,a Liquidating Dividend from an Investee

Multiple Choice

From an investor's point of view,a liquidating dividend from an investee is:

A) A dividend declared by the investee in excess of its earnings in the current year.
B) A dividend declared by the investee in excess of its earnings since acquisition by the investor.
C) Any dividend declared by the investee since acquisition.
D) A dividend declared by the investee in excess of the investee's retained earnings.