Tabco Inc, a Calendar Year, Accrual Basis Corporation, Accrued $48,800 Wage

question 24

Multiple Choice

Tabco Inc., a calendar year, accrual basis corporation, accrued $48,800 wage and salary expense and a corresponding liability at the end of 2018. How much of the accrued expense is deductible in 2018? 

• A) None of the accrued expense is deductible in 2018.
• B) The entire accrued expense is deductible in 2018.
• C) The amount of the accrued expense paid by September 15, 2019, is deductible in 2018.
• D) The amount of the accrued expense paid by March 15, 2019, is deductible in 2018.

---

Definitions:

Cortisol

A hormone released by the adrenal glands in response to stress, playing a critical role in the body's fight-or-flight response.

Activity Theory

A theory that suggests aging individuals will find their lives satisfying to the extent that they can maintain active engagements and roles in society.

Social Attitudes

A learned tendency to evaluate societal entities with some degree of favor or disfavor.

Property Taxes

Taxes levied on property owners by local governments, based on the assessed value of their property.