Problem related to computing taxable income, Taxation

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Problem related to computing taxable income

Problem: ABC corporation has a December 31st taxation year-end. For the 2022 taxation year, ABC corporation accrued $150,000 as bonus expense and the accrued amount was paid on July 8, 2023. ABC Corp is allowed to deduct $150,000 of bonus expense in computing its 2022 taxable income. O True O False

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