Which of the Following Statements Is False

Which of the following statements is false?

A) Other benefits from deferral arise because the firm effectively gains a real option to repatriate income at times when repatriation might be cheaper.
B) By pooling foreign income, the firm effectively pays the combined tax rate on all foreign income.
C) In years in which the Canadian tax rate exceeds the combined tax rate on all foreign income, the repatriation of additional income does not incur an additional Canadian tax liability, so the earnings can be repatriated tax-free.
D) Deferring repatriation of earnings lowers the overall tax burden in much the same way that deferring capital gains lowers the tax burden imposed by the capital gains tax.