Which of the Following Constitutes Constructive Receipt in 2016

question 26

Essay

Which of the following constitutes constructive receipt in 2016 ?
a. A check received on December 29, 2016. The check was postdated January 5, 2017.
b. A check received on January 4, 2017. It had been mailed on December 29, 2016.
c. A rent check, received on December 31, 2016, by the manager of an apartment complex. The manager normally collects rent for the owner who is out of town.
d. A salary check received at 5:30 p.m. on December 31, 2016, after all banks are closed.
e. A paycheck received on December 26, 2016. The check was not honored by the bank because the employer's account did not have sufficient funds

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Definitions:

Compounded Annually

Interest calculation method where interest is calculated on the initial principal as well as the interest accumulated over previous periods, applied once per year.

Annual Sales

The total revenue generated from sales activities over the course of one year.

Compounded Semiannually

A method where interest payments are made on an investment or loan twice each year, leading to interest being earned on previously earned interest.

Annually Compounded

Pertaining to interest on investment or loans that is calculated once a year, adding to the sum each year.