Which of the Below Statements Is FALSE

Which of the below statements is FALSE?

A) It is important to note that, in the absence of initial and variation margins, the theoretical price for the contract is technically the theoretical price for a forward contract, not the theoretical price for a futures contract.
B) For cash and carry trade, the futures price that would produce no arbitrage profit is: F = P + P(rB - y) where P is the repayment of principal of loan, rB is the borrowing rate, and y is the cash yield.
C) For reverse cash and carry trade, the futures price that would prevent a riskless profit is: F = P + P(rL - y) where P is the repayment of principal of loan, rL is the lending rate, and y is the cash yield.
D) In deriving the theoretical futures price, we consider transaction costs of the elements in the arbitrage strategies.