which of the following statements is false?

a. when sales of a new product displace sales of an existing product, the situation is often referred to as cannibalization

b. income tax can be calculated by taking EBIT (earnings before interest and tax) times (1-tax rate)

c. overhead expenses are often allocated to the different businesses activities for accounting purposes

d. a capital budget lists the projects and investments that a company plans to undertake during the coming year