Identify Which of the Following Statements Is False

Identify which of the following statements is false.

A) For E&P dividend distribution purposes, property as defined in Sec. 317(a) includes money.
B) The function of E&P is to provide a measure of a corporation's economic ability to pay dividends.
C) At formation, a corporation's E&P depends on the amount of capital contributed by the shareholders.
D) Adjustments to taxable income when computing E&P do not include tax-exempt interest.