Identify Which of the Following Statements Is True

Identify which of the following statements is true.

A) The losses of a foreign corporation that is 100% owned by a domestic corporation can be deducted by the domestic corporation to offset its gross income in the year incurred.
B) The deemed paid foreign tax credit was enacted so as not to discourage foreign direct investment through foreign branches.
C) A dividend remittance made by a noncontrolled foreign corporation is translated into U.S.dollars at the current exchange rate for the date the dividend is paid.
D) All of the above are false.