If a stock is sold on November 30 when the record date for a dividend distribution is December 1, the seller is:
I. entitled to the dividend if the trade is done regular way.
II. not entitled to the dividend if the trade is done regular way.
III. entitled to the dividend if the trade is done with cash settlement.
IV. not entitled to the dividend if the trade is done with cash settlement.
A) II and III.
B) II and IV.
C) I and IV.
D) I and III.
Answer: C) I and IV.