Step 1: Understanding the Concept
The prostate is the largest accessory gland of the male reproductive system, and it is multilobed.
Its secretion goes directly into the urethra, and the ejaculatory ducts pass through it.
Step 2: Key Point
It is an exocrine gland, not an endocrine gland, because its secretion goes through ducts.
Step 3: Compare the options
So the incorrect statement is that it is endocrine in function.
Final Answer:
The statement calling the prostate endocrine is incorrect.
\[ \boxed{\text{(B) }\text{It is multilobed and endocrine in function.}} \]