Identify Which of the Following Statements Is False

Identify which of the following statements is false.

A) An intercompany item includes income reported by the seller on the providing of services by one group member to another group member and the gain/loss reported by the seller on the sale of property to another group member.
B) An intercompany transaction is a transaction that takes place between two corporations that are members of the same affiliated group immediately after the transaction.
C) Unused general business credit carryforwards, which originate in a consolidated return year, are absorbed in a FIFO manner, beginning with the earliest ending tax year.
D) All of the above are false.