1) Which of the following statements are true?

I. A companys board of directors decides on the amount and timing of dividends

II. All publicly traded company must pay dividends to its owners

III. Corporations cant become bankrupt because of the nonpayment of dividends

IV. Dividend received by individual shareholders are taxable

a) II and IV only

b) II, III and IV only

c) I and IV only

d) I, II, III