Which of the Following Statements Is Correct

Multiple Choice

Which of the following statements is correct?

A) Net Property Income = Dividends received plus the gross-up minus the dividend tax credit.
B) Net Property Income = Dividends received minus the gross-up minus the dividend tax credit.
C) Federal Tax Payable = Federal tax on grossed-up dividends minus the dividend tax credit.
D) Federal Tax Payable = The gross up on dividends received minus the dividend tax credit.