Identify the rule that states that income has been realized when a taxpayer receives the income and there are no restrictions on the taxpayer's use of the income (e.g., no obligation to repay the amount) :
A) Claim of right
B) Constructive receipt
C) Return of capital principle
D) Wherewithal to pay
E) None of these
Correct Answer:
Verified
Q19: Worker's compensation benefits are excluded from gross
Q40: Trevor received a gift of $25,000 in
Q41: Identify which of the items below help
Q42: Which of the following is not a
Q43: Dave is a plumber who uses the
Q43: U.S. citizens generally are subject to tax
Q44: Hillary is a cash-basis calendar-year taxpayer. During
Q48: Identify the rule that determines whether a
Q58: Anna received $15,000 from life insurance paid
Q60: To provide relief from double taxation, Congress
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