Indicate whether the following statements are "True" or "False" regarding the accrual basis taxpayer.

a$.$The period in which an accrual basis taxpayer can deduct an expense is determined by applying the all events test and the economic performance test.

TrueFalse

b$.$An exception to the economic performance requirements allows certain recurring items to be deducted if the taxpayer receives IRS permission.

TrueFalse

c$.$Reserves for estimated expenses generally are allowed for tax purposes because the economic performance test has been satisfied.

TrueFalse