New York, Inc $\quad$ $\quad$ $\quad$ $\quad$ $ 628,000
Brooklyn $\quad$ $\quad$

New York, Inc. owns 100% of Brooklyn, Inc. and Queens, Inc. Taxable income for the three corporations for their first year was as follows:
New York $\quad$$\quad$$\quad$$\quad$ $ 628,000
Brooklyn $\quad$$\quad$$\quad$$\quad$$\quad$ 246,000
Queens $\quad$$\quad$$\quad$$\quad$$\quad$ (105,000 )
Which of the following statements is false?

A) Consolidated taxable income is $769,000.
B) If a consolidated return is filed, Queens, Inc. will receive immediate tax benefit from its operating loss.
C) If Brooklyn, Inc. is a foreign corporation, it can be part of a consolidated return.
D) The corporations are not required to file a consolidated tax return if they are an affiliated group; however, they may elect to do so.