Discussion Question $6-10($LO$.2)$

For the following statements, indicate either "True" or "False" regarding what is the "actually paid" requirement for the deduction of an expense by a cash basis taxpayer.

$$The expenses of cash basis taxpayers are deductible only when they are actually paid i$-$with cash but not property.

$$Promising to pay or issuing a note does not satisfy the actually paid requirement.

$$At the time taxpayers charge expenses on their credit cards, they are allowed to daim the deduction.

$$For a cash basis taxpayer, actual payment does not ensure a current deduction.