1. While charitable donations cannot be deducted by a corporation, they can be used as the basis for a tax credit.

True or False?

2. Charitable contributions that are not used during the current year can be carried forward for five years, without regard to whether the taxpayer is an individual or a corporation.

True or False?

3. For dividends received in a specific province, the after-tax rates of return to investors are higher for eligible dividends received than for non-eligible dividends.

True or False?

4. Dividends declared by public companies will always be eligible dividends.

True or False?

5 When there is an acquisition of control, any non-depreciable asset with an adjusted cost base in excess of its fair market value must be written down to its fair market value.

True or False?