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82. On December 20, 2014, Thomas, the CEO of Lifetime Corporation issues a $10,000 bonus check to Ana Maria. Thomas asks Ana Maria to hold the check until at least January 4, 2015, when there will be enough deposits to cover the check. Ana Maria is not required to recognize the $10,000 in 2014 because of which of the following? a. Claim-of-Right Doctrine. b. Substance-Over-Form Doctrine. c. Entity Concept. d. Constructive Receipt Doctrine. e. Arm's Length Transaction Concept. ANSWER:
a
POINTS: DIFFICULTY:
1 Medium
LEARNING OBJECTIVES: CIFT.MUHI.14.4 - 4 NATIONAL STANDARDS: United States - AACSB Analytic United States - AICPA Measurement 83. When Kerri filed her 2014 tax return on April 15, 2015, she did not include a $2,000 bonus received from her employer on January 10, 2015 relating to her work performance during 2014. What concept, construct, or doctrine supports Kerri's actions? a. Arms-length Transaction Concept. b. Substance Over Form Doctrine. c. Constructive Receipt Doctrine. d. Claim of Right. e. Entity Concept. ANSWER: POINTS: DIFFICULTY: LEARNING OBJECTIVES: NATIONAL STANDARDS:
c 1 Medium CIFT.MUHI.14.4 - 4 United States - AACSB Analytic United States - AICPA Measurement
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Full file at https://testbankuniv.eu/Concepts-in-Federal-Taxation-2015-22nd-Edition-Murphy-Test-Bank