Organizational expenses incurred by an accrual basis corporation in its first year of existence but paid in a later year will not qualify for amortization.

Question

Quizplus · Accepted Answer

Organizational expenses incurred by an accrual basis corporation in its first year of existence can be amortized over a period of 180 months starting with the month the corporation begins business, even if the expenses are paid in a later year.

Organizational Expenses Incurred by an Accrual Basis Corporation in Its