Question
1.The share in the profits of a partner in a general professional partnership is regarded as received by him and thus taxable although not yet
1.The share in the profits of a partner in a general professional partnership is regarded as received by him and thus taxable although not yet distributed. The principle is known as:
a.Actual receipt of income
b.Advance reporting of income
c.Accrual method of accounting
d.Constructive receipt of income
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Smith and Roberson Business Law
Authors: Richard A. Mann, Barry S. Roberts
15th Edition
1285141903, 1285141903, 9781285141909, 978-0538473637
