Identify Which of the Following Statements Is False

Identify which of the following statements is false.

A) Casualty losses incurred by a corporation are deductible subject to a nondeductible floor similar to those applicable to individuals.
B) The passive loss rules do not apply to widely held C corporations.
C) Corporations may receive a deduction for dividends received from other corporations.
D) 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.