How does a firm's dividend policy reflect its approach to financial decision-making, and what are the two primary strategies discussed in this context?

A. Explain the concept of treating dividends as the residual part of a financing decision.

B. Outline the key characteristics and principles of an active dividend policy strategy.

C. Compare and contrast the implications of these two strategies on a firm's overall financial management.

D. Provide examples illustrating situations where each strategy may be suitable for a firm.

E. Assess the potential impact of a firm's dividend policy on investor perceptions and shareholder value.