Question: Which statement is false? A. Mortgage payable is often used to purchase land and buildings B. Deferred income taxes are differences in income taxes on

Which statement is false?

A. Mortgage payable is often used to purchase land and buildings

B. Deferred income taxes are differences in income taxes on accounting income and taxable income.

C. Bonds payable is the most popular form of long-term financing.

D. Long-term notes payable may result in a capital lease.

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