Identify Which of the Following Statements Is True

question 55

Multiple Choice

Identify which of the following statements is true.

• A)A corporation that accrues compensation payable to an employee must pay the amount within two and one-half months after the close of the taxable year to deduct the amount in the year of the accrual.
• B)Accrued compensation that is deductible in the year of accrual is considered to be part of an IRS deferred compensation plan.
• C)Accrued compensation not paid within three and one-half months after the close of the corporation tax year is deducted in the year following the accrual.
• D)All of the above are false.

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Definitions:

End-Permian Extinction

The largest mass extinction event in Earth's history, occurring around 252 million years ago and resulting in the extinction of a significant proportion of marine and terrestrial species.

UV-B Radiation

A portion of the ultraviolet spectrum with wavelengths from 280 to 315 nanometers, known for its biological effects, including DNA damage and vitamin D synthesis in skin.

Acid Rain

Precipitation with a pH lower than normal, resulting from atmospheric pollution that causes environmental harm.

Adaptive Radiation

A process in which organisms diversify rapidly into a multitude of new forms, particularly when a change in the environment makes new resources available, creates new challenges, or opens new environmental niches.