Which of the Following Statements Is FALSE

Which of the following statements is FALSE?

A) A capital budget lists the projects and investments that a company plans to undertake during the coming year.
B) Income Tax = EBIT × (1 - τ_c) .
C) When sales of a new product displace sales of an existing product,the situation is often referred to as cannibalization.
D) Overhead expenses are often allocated to the different business activities for accounting purposes.