Which of the following statements is FALSE? O Under the cash basis method, warranty costs are charged to expense as they are paid. O Cash dividends should be recorded as a liability when they are declared by the board of directors. O Federal income taxes withheld from employees' payroll cheques should be recorded as a long-term liability. O Under IFRS, a company rmay 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.