Identify Which of the Following Statements Is True

Identify which of the following statements is true.

A) When a new corporation joins an affiliated group, all of its income and expense items for the tax year, including the acquisition date, must be allocated between the separate tax return and consolidated tax return that are to be filed based on the number of days included in each of the two tax years.
B) All members of a consolidated group must use the same tax year.
C) A consolidated return election may be revoked after 5 years.
D) All of the above are false.