An Accrual Basis Employer May Take a Deduction for Deferred

question 32

True/False

An accrual basis employer may take a deduction for deferred compensation when the employer promises to pay the deferred compensation, but does not set aside funds for that purpose.

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Definitions:

Consistency

the quality of always acting or behaving in the same way, showing reliability and uniformity in one's actions.

Distinctiveness

The quality of being clearly different or unique in comparison to others.

Collective Unconscious

A concept in analytical psychology proposing that societies share a set of inherited mental structures, which are not acquired by personal experience but are innate.

Carl Jung

A Swiss psychiatrist and psychoanalyst who founded analytical psychology, emphasizing the importance of the individual psyche and the personal quest for wholeness.