On December 31, 2016, Lavender, Inc

question 16

True/False

On December 31, 2016, Lavender, Inc., an accrual basis C corporation, accrues a $50,000 bonus to Barry, its vice president and a 40% shareholder. Lavender pays the bonus to Barry, who is a cash basis taxpayer, on March 14, 2017. Lavender can deduct the bonus in 2017, the year in which it is included in Barry's gross income.

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Definitions:

Long Attention Spans

Long attention spans refer to the ability to concentrate or remain focused on a task, object, or activity for extended periods without being easily distracted.

Constant Multitasking

The persistent engagement in multiple tasks simultaneously or in rapid succession, often leading to decreased effectiveness and efficiency.

Inoculation

In psychology, a method to protect individuals from persuasion by previously exposing them to a weakened argument, enhancing resistance.

Alpha Strategies

Approaches or methods that aim to achieve dominant or leading positions in a particular area or field.