Which of the following constitutes constructive receipt in 2016 ?
a. A check received on December 29, 2016. The check was postdated January 5, 2017.
b. A check received on January 4, 2017. It had been mailed on December 29, 2016.
c. A rent check, received on December 31, 2016, by the manager of an apartment complex. The manager normally collects rent for the owner who is out of town.
d. A salary check received at 5:30 p.m. on December 31, 2016, after all banks are closed.
e. A paycheck received on December 26, 2016. The check was not honored by the bank because the employer's account did not have sufficient funds
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q44: Norah's Music Lessons Inc.is a calendar year
Q47: The Cable TV Company, an accrual-basis
Q47: One of the requirements that must be
Q48: Chance Corporation began operating a new retail
Q48: Improvements to leased property made by a
Q51: Distributions in excess of a corporation's current
Q54: CT Computer Corporation, an accrual-basis taxpayer,
Q57: Interest on the obligations of the U.S.government,states,territories,and
Q58: For a cash-basis taxpayer,security deposits received on
Q60: Speak Corporation,a calendar year accrual-basis taxpayer,sell packages
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents