A taxpayer instructing her son to collect rent checks for the taxpayer's property and to report this as taxable income on the son's tax return violates which doctrine?
A. Implicit tax doctrine.
B. Step-transaction doctrine.
C. Constructive receipt doctrine.
D. Assignment of income doctrine.
E. None of the choices are correct.
Answer: D
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The win-win strategy can best be summed up by which of the following statements?
A) Both buyer and seller come away from the negotiation having given up something they originally wanted. B) Both buyer and seller come away from the negotiation feeling that their best interests have been served. C) Both buyer and seller come away from the negotiation feeling that they have made a new friend. D) Neither buyer nor seller comes away from the negotiation feeling that they have made progress. E) Neither buyer nor seller comes away from the negotiation having given up anything.
From the viewpoint of corporate controller, the most significant ratio is:
a. the degree of financial leverage. b. earnings per share. c. debt/equity. d. fixed charge coverage.
A map is especially useful when a receiver is completely familiar with the geography discussed in a report
Indicate whether the statement is true or false
Castner orally agreed to purchase a desk from the Arman Furniture Company and paid $850 cash. When the desk was delivered the next day, Castner refused to accept it, saying he had changed his mind. When Castner insisted on a return of the $850, claiming that since the agreement was not in writing, he was not bound to accept the desk, Arman Furniture refused. Is Castner correct?
a. Yes; Castner has a legal right to change his mind. b. Yes, if Castner can prove that the desk wasn't worth $850. c. No; Castner is bound on the contract because he had paid for the desk in full. d. Yes; Castner would not be bound unless the agreement to buy the desk was actually in writing.