Identify Which of the Following Statements Is False

Identify which of the following statements is false.

A) A corporation with annual gross receipts of $25,000,000 or less can use the accrual method to account for sales, cost of goods sold, inventories, accounts receivable and payable, and the cash method for other income and expenses.
B) Casualty losses incurred by a corporation are deductible subject to a nondeductible floor similar to those applicable to individuals.
C) The passive loss rules do not apply to widely held C corporations.
D) Corporations may receive a deduction for dividends received from other corporations.