Which of the Following Is Not True About the Life

Which of the following is not true about the life cycle growth and dividend policy?

A) in the maturity stage, a firm usually pays moderate to high dividends
B) in the development stage, a firm usually pays stock dividends and some low cash dividends
C) in the expansion stage, a firm pays low to medium cash dividends and occasionally may have stock splits
D) in the growth stage, a firm pays stock dividends