According to the Corporations Act,dividends May

Which of the following statements is not correct in relation to cumulative preference shares? A)Holders of cumulative preference shares are guaranteed a dividend every year. B)Undeclared cumulative preference share dividends accumulate,or carry forward,to future periods. C)The accumulated amount of any cumulative preference share dividend plus the current year's preference dividend must be paid before any dividend can be paid to ordinary shareholders. D)Cumulative preference share dividends that are not declared in the year they are due are called dividends in arrears.

In relation to a revaluation surplus,an entity: A)cannot use this surplus for the payment of future dividends. B)can transfer this surplus to retained earnings when the asset is derecognised or used. C)cannot transfer this surplus to any other reserve account. D)can transfer the surplus to the current period profit or loss when the asset is disposed of.