Please answer the question with NO explanation:$-$

$1-$ Tax accrual method of accounting is identical to GAAP rules of accounting.

True

Fales

$2-$ Under the accrual method, a taxpayer$$s right to receive income becomes fixed at the later of $($i$)$ required performance, $($ii$)$the date payment becomes due, or $($iii$)$ the date payment is made.

True

Fales

$3-$Income recognition is precluded under the tax accrual method unless the amount can be determined with reasonable accuracy.

True

Fales

$4-$A taxpayer using the accrual method for tax may need not include in income an amount for which his right to receive is fixed and can be determined with reasonable accuracy if there is reasonable doubt as to the collectability of such income.

True

Fales

$5-$Under the tax accrual method rules, if it is certain that a fixed amount is due and only the excess above that amount is in question, the fixed amount is still required to be accrued as income.

True

Fales

$6-$Generally, advance payment for goods or services are recognized as income over the period during which such goods or services will be provided.

True

Fales

$7-$ Expenses of accrual method taxpayers are generally deductible in the year in which $($i$)$ all events have occurred which establish the fact of the liability, $($ii$)$ the amount of the liability can be determined with reasonable accuracy, and $($iii$)$ economic performance has occurred.

True

Fales

$8-$The identification of the exact person to whom such liability is owed to is necessary in meeting the all events test.

True

Fales

$9-$The regulations provide that for certain liabilities economic performance occurs no sooner than payment.

True

Fales

$10-$Deferred compensation is deductible in the year the liability arises$/$services are performed regardless of when payment is made.

True

Fales