Examples of Income Which Are Constructively Received Include All of the Following

question 53

Multiple Choice

Examples of income which are constructively received include all of the following except

• A)interest credited to a savings account.
• B)a check received after banking hours.
• C)a paycheck received from employer,when employer does not have funds in the bank to cover the check.
• D)dividends available on December 31; unclaimed dividends will be mailed out.

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Definitions:

Amortization

The systematic and rational allocation of the acquisition cost of an intangible asset over its useful life

Cash Inflow

Money coming into a business or an account, from various sources like sales, financing, or investment returns.

Sierra Legal Defence Fund

An organization dedicated to using legal avenues to protect the environment and advocate for conservation efforts, now known as Ecojustice Canada.