Which of the following holds true for whole life insurance?
A) All cash value is returned upon death. B) Premiums paid have cash value.
C) Premiums are paid for insurance only. D) Policies cannot be used as collateral.
B
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A contract in consideration of marriage is necessary only if the promise to marry is other than a(n) ____________________ promise
Fill in the blank(s) with correct word
A corporation distributes land and the related liability in a nonliquidating distribution to a shareholder. The land (a capital asset) has an adjusted basis of $70,000, an FMV of $100,000 and is subject to a mortgage of $120,000. The corporation must recognize
A) a $20,000 capital loss. B) a $50,000 capital gain. C) a $70,000 capital gain. D) no gain or loss.
The multiplicand is 519. The multiplier is 45. ? The product is 23,355
Indicate whether the statement is true or false