Identify Which of the Following Statements Is True

Identify which of the following statements is true.

A) The partnership's tax year closes with respect to a partner whose interest is transferred by gift.
B) An LLC has been taxed as a partnership for five years. Under the check- the- box rules, the LLC makes a timely election in 2009 to be taxed as a C corporation. The election of C corporation status is permitted and results in the LLC's assets being transferred from a partnership to a C corporation under the federal income tax rules.
C) Under the check- the- box rules, an LLC with more than one member is taxed as a corporation unless it elects to be taxed as a partnership.
D) All of the above are false.