Identify Which of the Following Statements Is True

question 18

Multiple Choice

Identify which of the following statements is true.

• A) 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.
• B) Accrued compensation that is deductible in the year of accrual is considered to be part of an IRS deferred compensation plan.
• C) 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.
• D) All of the above are false.

Identifying typical interview questions and preparing effective responses.

Articulating weaknesses and strengths in a manner beneficial for interviews.

Utilizing storytelling techniques for framing interview responses.

Recognizing the expected interactive nature of interviews by preparing thoughtful questions.

---

Definitions:

Variable Costs

Costs that change in direct proportion to changes in the level of production or sales activity, such as raw materials and labor.

Full Cost Pricing

A pricing strategy where the price of a product is determined by adding a markup to its total production costs, including both direct and indirect costs.

Cost-Plus Pricing

A pricing strategy where the selling price is determined by adding a specific markup to a product's cost price.

Cost Behaviour

The way in which a cost reacts or changes when there is a change in the level of business activity.