1. Which of the following correctly describes the treatment of dividends?
2. Corporations can reduce net income by the amount of dividends received from other taxable Canadian corporations.
3. Individuals can reduce net income by the amount of dividends received from taxable Canadian corporations.
4. Corporations can reduce net income by the amount of dividends received from any foreign corporation.
5. Stock dividends are not taxable to individuals since there is no distribution of cash.