Which of the following statements is false?

1. non-refundable credits are applied first against total tax liability and then refundable credits are next applied.

2. some credits have elements of both refundable and non-refundable amounts

3. deductions are worth more than credits

4. some non-refundable credits maybe eligible to carryback and/or carryforward into other tax years and possibly can be used (i.e. converted into cash savings) depending on the facts.