Which one of the following is usually NOT necessary in order for a corporation to pay a cash dividend?

Name: Which one of the following is usually NOT necessary in order for a corporation to pay a cash dividend?
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Question

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Declared dividends are not necessary for a corporation to pay a cash dividend, as long as the board of directors takes formal action and there are sufficient cash and retained earnings. However, it is customary for the corporation to declare the dividend before paying it to shareholders.

Which One of the Following Is Usually NOT Necessary in Order