Huml Inc Could Not Deduct an Accrued Expense Because of the the All-Events

question 105

True/False

Huml Inc. could not deduct an accrued expense because of the all-events test. As a result, Huml has a permanent unfavorable book/tax difference.

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Definitions:

Simplify

Making an algebraic expression easier to understand by combining like terms or applying mathematical operations.

Radical

A mathematical symbol (√) used to denote the square root or nth root of a number or expression.

Expression

A combination of symbols that represents a mathematical concept or quantity.

Radical Expression

An expression that includes a radical sign, signifying the root of a number.