examples of income which are constructively received include all the of all of their following except...
examples of income which are constructively received include all the of all of their following except
a paycheck received from employer when employer does not have funds in the bank to cover a check
dividend automatically reinvested in additional shares of the mutual fund
interest credited to a savings account
a check received after banking hours
Homework Answers
a pay check received from employer when employer does not have funds in the bank to cover a check is the correct option.
Constructively received income includes an income over which one has the ability to use as well as control the funds even though the money is not received in physical form.It includes interest credited to savings account,dividend reinvested in additional shares,check received after banking hours.
A paycheck which is received from an employer who does not have funds to cover that check would lead to check bounce and no funds would be credied to the person who received the check.Thus it is not a constructive receipt of income.
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examples of income which are constructively received
include all the of all of their following except...
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28 - 33 Questions 28-34 are based on the following information Personal finance. Suppose you are...
28 - 33
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Questions 28-34 are based on the following information Personal finance. Suppose you are an engineer and your spouse is a sales person. Neither of you knows finance, economics or financial statement analysis. Both you and your spouse are salary carners. Both are paid each month 28. After allocating sufficient money to your monthly living expense, mortgage education, other necessary expenses and emergency fund, you would like to use the remaining salary to do which of the following...
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