Identify Which of the Following Statements Is True

Identify which of the following statements is true.

A) At the election of a corporation, a net capital loss carryback can be forgone and carried forward only.
B) Corporate capital loss carrybacks can offset corporate ordinary income earned in previous years.
C) A corporate capital loss can be carried back three years, and then can be carried forward five years.
D) All of the above are false.