Which of the Following Is NOT Accurate Regarding Corporate Dividends

Which of the following is NOT accurate regarding corporate dividends?

A) Once declared, a dividend becomes a liability of the firm.
B) The value of a firm's stock is ultimately determined by its dividend policy.
C) The existence of an information content effect tends to make it difficult to determine the effects of dividend policy.
D) In the absence of a more favourable tax rate on cash dividends, investors will prefer stocks with relatively low dividend payout rates.
E) Dividend stability is usually viewed as a desirable objective.