Under the cash method of accounting, income is reported in the year the taxpayer actually or constructively receives the income.
Answer the following statement true (T) or false (F)
True
In addition to actual receipt, the constructive receipt doctrine requires recognition when a taxpayer "turns his back" on income readily available without significant restriction.
You might also like to view...
A community center that designs classrooms in a U-shaped manner to facilitate bringing people together is considering which aspect of crafting the service environment?
What will be an ideal response?
Prepare general journal entries for the following transactions of Norman Company, assuming they use the allowance method to account for uncollectible accounts. Apr 01Sold $3,500 of merchandise to Lance Co., receiving an 8%, 90-day, $3,500 note. 15Wrote off $1,500 owed by Guy Co. from a previous period sale. 30Received a $5,000, 6%, 30-day note receivable from James Co. as settlement for its $5,000 account receivable.May 30The note received from James on April 30 was collected in full.Jun 30Lance Co. was unable to pay the note on the due date.Jul 15Guy Co. paid $1,000 of the amount written off on April 15.
What will be an ideal response?
The ____________ is the external pool of candidates from which we draw recruits for open positions.
A. society B. labor market C. career fair D. social media site E. None of the above
The basic mechanics of the alert process include registering an alert name, setting up when an alert should signal, and enabling the appropriate users to receive the alert.
Answer the following statement true (T) or false (F)