Constructive receipt means the taxpayer has:Multiple ChoiceOOOOEarned the income.Accrued the income.Control of the income for his or her use.Earned the income and accrued the income.

Taxation refers to the process of recording, calculating, and reporting taxes owed to government…

Answered: Constructive receipt means the taxpayer…

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Constructive receipt means the taxpayer has:

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter28: Income Taxati On Of Trusts And Estates

Section: Chapter Questions

Problem 23P

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Concept explainers

Deferred Tax

Deferred tax is an estimated future tax which is made while preparing accounts. It is estimated as a result of past and present transactions in the financial statements. It is not the actual tax which needs to be paid or refundable from the revenue authority, it is an accounting entry. It exists because of the difference between accounting profits and taxable profits.

Question

Constructive receipt means the taxpayer has:
Multiple Choice
O
O
O
O
Earned the income.
Accrued the income.
Control of the income for his or her use.
Earned the income and accrued the income.

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