Which of the following statements is FALSE? Mare O a. Income Tax can be calculated by taking EBIT (Earnings before Interest and Tax) times (1 - Tax Rate) O b. Overhead expenses are often allocated to the different business activities for accounting purposes. O c. A capital budget lists the projects and investments that a company plans to undertake during the coming year. O d. When sales of a new product displace sales of an existing product, the situation is often referred to as cannibalization