In cobol 85
Please relate this to a REAL
compiler -- such as IBM Enterrprise COBOL, IBM COBOL for MVS & VM, IBM OS/390 COBOL, IBM VS COBOL II, IBM OS/VS COBOL -- since it is not possible for us to answer your question based upon a theoretical version of COBOL, only based upon a COBOL compiler version. If you want to know the answer to your question as stated, it is not hard to find the specifications for COBOL 85 and read them to see what is said. Since this would be a major waste of time for us, we will let you do the research.
With the IBM COBOL compilers, such as Enterprise COBOL, you should be aware that there is only a limited concept of dynamic arrays -- in WORKING-STORAGE, the entire maximum length of the array is allocated memory. So even though you use OCCURS DEPENDING ON in WORKING-STORAGE, practically there is no difference in memory used between an array defined with OCCURS and an array defined with OCCURS DEPENDING ON.