On March 1, Bart transfers ownership of a $700,000 life insurance policy on his life that he purchased in 2015. How long must Bart live to avoid inclusion of the $700,000 death benefit in his estate?
A) six months
B) one year
C) three years
D) No minimum time period exists.
C) three years
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The major accounts in the acquisition and payment cycle are inventory, cost of goods sold, accounts payable, and other expense accounts
a. True b. False Indicate whether the statement is true or false
Threadbare Industries is a new high-end textile company that has raised sufficient capital from multiple sources. It is planning to use its capital to purchase certain assets. Which of the following assets will be the most difficult for Threadbare Industries to acquire using its capital?
A. a lease for a new building B. brand name C. a new CEO D. software
What is the investment capital funding sought at the expansion or growth stage of the venture called?
a. Seed b. Seed A c. Series B d. Series C
The following static budget is provided: Per Unit TotalSales$50? $850,000? Less variable costs: Manufacturing costs 20? 340,000? Selling and administrative costs 10? 170,000? Contribution margin$20? $340,000? Less fixed costs: Manufacturing costs 75,000? Selling and administrative costs 135,000? Total fixed costs 210,000? Net income $130,000? What will be the overall volume variance if 20,000 units are produced and sold?
A. $60,000 F B. $150,000 F C. $60,000 U D. $30,000 U