When a Corporation Declares a Property Dividend, the Corporation Should

When a corporation declares a property dividend, the corporation should

A) divide the property equally among all stockholders.
B) record the dividend by debiting retained earnings for an amount equal to the fair value of the property to be distributed.
C) record the dividend by debiting retained earnings for an amount equal to the book value of the property to be distributed.
D) record the dividend on its books at the carrying value of the property distributed and inform stockholders as to the fair value of the property so they may individually recognize a gain or loss.