On December 31, 2014, Peregrine Corporation, an Accrual Method, Calendar

question 15

Multiple Choice

On December 31, 2014, Peregrine Corporation, an accrual method, calendar year taxpayer, accrued a performance bonus of $100,000 to Charles, a cash basis, calendar year taxpayer. Charles is president and sole shareholder of the corporation. When can Peregrine deduct the bonus?

• A) In 2014, if the bonus was authorized by the Board of Directors and payment was made on or before March 15, 2015.
• B) In 2015, if payment was made at any time during that year.
• C) In 2014, if payment was made on or before March 15, 2015.
• D) In 2015, but only if payment was made on or before March 15, 2015.
• E) None of the above.

Differentiate between various letter styles and formatting conventions.

Demonstrate knowledge of correct postal and electronic addressing protocols including zip code formats.

Understand the legal and ethical considerations in releasing patient information.

Master the basic grammar and punctuation rules for professional writing.

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Definitions:

Inclusive Fitness

Genetic contribution an individual makes by reproducing, plus a fraction of the contribution it makes by facilitating reproduction of relatives.

Altruistic Behavior

Actions by an individual that benefit others at a cost to oneself, observed in social species, which may promote cooperation and social cohesion.

Kin Selection

Type of natural selection in which individuals with the highest inclusive fitness are favored.

Selfish Herd

A behavioral strategy where individuals in a group position themselves centrally to reduce predation risk.