Which of the following statements is true of corporations?

A. Income of all corporations is taxed in the same way that income of partnerships is taxed.

B. Capital losses of a corporation may be deducted from ordinary income, subject to an annual limitation.

C. If a corporation has a long-term capital loss that is carried back, it is treated as a short-term capital loss.

D. A corporation's charitable contribution deduction is limited to 25 percent of the corporation's taxable income.

E. A corporation may deduct organizational expenditures as they are incurred.