Which of the Following Statements Regarding Capital Investment Analysis Is

Which of the following statements regarding capital investment analysis is false?

A) A long-term planning horizon is assumed.
B) Benefits of potential investment projects are conceptually expressed in terms of accounting income (or reduction in costs) rather than after-tax cash flows.
C) Project acceptance decisions are based partially on the extent to which these projects and expenditures support the strategy of the organization.
D) Need to incorporate income-tax effects in the analysis, for both revenues (and gains) as well as expenses (and losses) .
E) Discounted cash flow (DCF) decision models are used by most large organizations.