Identify Which of the Following Statements Is True

question 55

Multiple Choice

Identify which of the following statements is true.

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

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Definitions:

9/11 Terrorist Attacks

A series of coordinated suicide terrorist attacks carried out by the Islamist group al-Qaeda on September 11, 2001, targeting key U.S. locations and resulting in nearly 3,000 deaths.

Miranda Rule

A legal requirement that police must inform detainees of their rights to silence and legal counsel before questioning, stemming from the 1966 Miranda v. Arizona case.

Miranda Warnings

A requirement for police in the United States to inform suspects of their rights, including the right to remain silent and the right to an attorney, before questioning them in custody.

Confession

A confession is a formal admission of guilt made by a person accused of a crime, typically provided to law enforcement officials.