Topic: Income Taxation Which of the following is considered a “constructive receipt” of gross income? * A partner’s share in the income of the general professional partnership is credited to his capital account. Payment for the sale is deposited by buyer to the seller’s bank account. Cancellation of debt of employee by employer in consideration of friendship. A and B only All of the above

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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MC: Topic: Income Taxation

Which of the following is considered a “constructive receipt” of gross income? *

  1. A partner’s share in the income of the general professional partnership is credited to his capital account.
  2. Payment for the sale is deposited by buyer to the seller’s bank account.
  3. Cancellation of debt of employee by employer in consideration of friendship.
  4. A and B only
  5. All of the above
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