Constructive Receipt Represents the Principle That Cash-Basis Taxpayers Will Be

question 99

True/False

Constructive receipt represents the principle that cash-basis taxpayers will be taxed on income when it is made available to them without substantial restrictions.

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Definitions:

Phillips Curve

A concept suggesting an inverse relationship between the rate of inflation and the rate of unemployment within an economy.

Desired Expenditures

The amount of spending households, firms, and the government wish to make, usually influenced by economic conditions and policies.

Inflation

A persistent upsurge in the average cost of goods and services across an economy over time.

Unemployment

The situation when people who are willing to work at current wage rates cannot find jobs.