Which of the following are true? I) Firms have long-run target dividend payout ratios. II)...
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Accounting
Which of the following are true? I) Firms have long-run target dividend payout ratios. II) Dividend changes follow shifts in long-term, sustainable earnings. III) Managers are reluctant to make dividend changes that might have to be reversed.
III only
II only
I only
I, II, and III
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