Which of the Following Statements Regarding Hedge Accounting Within a Group

Which of the following statements regarding hedge accounting within a group is FALSE?

A) For hedge accounting purposes, only instruments that involve a party external to the reporting entity (i.e. external to the group or individual entity that is being reported on) can be designated as hedging instruments.
B) Although individual entities within a consolidated group or divisions within an entity may enter into hedging transactions with other entities within the group, any such intragroup transactions are eliminated on consolidation.
C) Hedging transactions with other entities within the group qualify for hedge accounting in the consolidated financial statements of the group.
D) Hedging transactions with other entities within the group may qualify for hedge accounting in the individual or separate financial statements of individual entities within the group provided that they are external to the individual entity that is being reported on.