Which of the following statements is not true?

a. The exclusion for scholarships is limited to the amount of the scholarship used for qualified tuition and related expenses.

b. Dividends on life insurance and endowment policies are normally not taxable because they are considered to be a partial return of premiums paid. c. Taxpayers who elect the foreign-earned income exclusion in one year may not switch to the foreign tax T credit in any subsequent year.

d. Debt forgiveness in bankruptcy does not result in the recognition of income currently.

e. None of the answers provided is correct.