The Indifference Policy Advocates That

The indifference policy advocates that

A) dividends are irrelevant.
B) firms are indifferent to dividend policy but stockholders are not.
C) stockholders are indifferent to dividend policy only as long as dividends are held constant.
D) dividend policy is irrelevant as long as the firm's investment policy is modified for dividend changes.
E) dividend policy is irrelevant.