Which of the Following Statements Regarding Serial Bonds Is False

Which of the following statements regarding serial bonds is false?

A) The principal on serial bonds is paid over the term of the bonds.
B) The assets of a debt service fund may include Cash with Fiscal Agent
C) The principal repayment on an annuity serial bonds decreases each year as the outstanding balance decreases
D) If the first payment is delayed for more than a year with equal payments thereafter, the bonds are deferred serial bonds