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:

Personal Details

Information relating to an individual's private or personal life, often used for identification or administrative purposes, including name, address, DOB, etc.

Professional Details

Information or aspects that pertain specifically to a person's occupation or field of expertise.

Interpersonal Skills

The abilities that a person uses to interact effectively with others, including communication, listening, empathy, and conflict resolution skills.

Relational Goals

In an interview, using interpersonal skills so as to be perceived as attractive and credible.