Let's evaluate each statement:
(1) Vascular bundles are scattered: This is correct. In monocot stems, vascular bundles are scattered throughout the ground tissue, unlike dicots where vascular bundles are arranged in a ring.
(2) Vascular bundles are conjoint and closed: This is also correct. In monocots, the vascular bundles are conjoint (xylem and phloem are arranged together) and closed (no cambium between xylem and phloem).
(3) Phloem parenchyma is absent: This is correct. Monocot stems generally lack phloem parenchyma, and the phloem consists mainly of sieve tubes and companion cells.
(4) Hypodermis is parenchymatous: This is NOT correct. In monocot stems, the hypodermis is usually sclerenchymatous, providing structural support, not parenchymatous.
Thus, the correct answer is "Hypodermis is parenchymatous."