Over the years Rianna paid $65,000 in premiums on a life insurance policy with a face value of $100,000. Upon reaching 65, while still in good health, Rianna surrendered the policy and collected $95,000. In the year of collection, Rianna will report
A. $95,000 of taxable income.
B. $5,000 of tax loss.
C. no income.
D. $30,000 of taxable income.
Answer: D
You might also like to view...
Hindustan Lever recently developed a hard candy flavored with natural fruit juice that it sells profitably in India for the equivalent of 1 cent per piece. This is Hindustan Lever's first-ever candy product. What strategy is evident here?
A) product-communications extension B) product extension-communications adaptation C) product adaptation-communications extension D) dual adaptation E) product invention
An outcome to a disagreement in which both parties walk away feeling that they got what they wanted or needed is ________.
A. seamless service B. a win-win situation. C. stereotyping D. disparate treatment.
________ refers to the various ways a site enables user-to-user communications.
A. Commerce B. Content C. Community D. Customization E. Context
In vertical analysis, each item is expressed as a percentage of:
A. Sales on the income statement. B. Net income on the income statement. C. Total expenses on the income statement. D. None of these answers is correct.