Which of the following statements is FALSE?

Federal income taxes withheld from employees' payroll cheques should be recorded as a long$-$term liability.

Cash dividends should be recorded as a liability when they are declared by the board of directors.

Under IFRS, a company may exclude a short$-$term obligation from current liabilities if$,$ at statement of financial position date,

the entity expects to refinance under an existing agreement for at least a year, and the decision is solely at its discretion.

Under the cash basis method, warranty costs are charged to expense as they are paid.