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Which of the following statements regarding the conditions that must be met for certain recurring items to be deducted immediately is false? a . The
Which of the following statements regarding the conditions that must be met for certain recurring items to be deducted immediately is false?
a The taxpayer must have been able to immediately deduct the recurring items in three out of five of the last tax returns.
b All of the events have occurred that determine the existence of the liability, and the amount of the liability can be determined with reasonable accuracy.
c Economic performance occurs within a reasonable period but not later than months after the close of the taxable year
d Either the accrued item is not material or accruing it in the current period results in better matching of income and expenses.
e The item is recurring in nature and is treated consistently by the taxpayer.
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