Business, 15.11.2019 07:31 badatmathmate8388

Iris collected $150,000 on her deceased husband's life insurance policy. the policy was purchased by the husband's employer under a group policy. iris's husband had included $5,000 in gross income from the group term life insurance premiums during the years he worked for the employer. she elected to collect the policy in 10 equal annual payments of $18,000 each.
a. none of the payments must be included in iris's gross income.
b. the amount she receives in the first year is a nontaxable return of capital.
c. for each $18,000 payment that iris receives, she can exclude $500 ($5,000/$180,000 × $18,000) from gross income.
d. for each $18,000 payment that iris receives, she can exclude $15,000 ($150,000/$180,000 × $18,000) from gross income.
e. none of these.

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 13:30

Which of the following is a primary concern of top managers? a)supervising nonmanagerial employees b)deciding which goods a company should produce c)supervising first-line managers d)developing and fine-tuning employee skills e)training, motivating, and rewarding salespeople.

Answers: 2

Answer

Business, 22.06.2019 02:30

When interest is compounded continuously, the amount of money increases at a rate proportional to the amount s present at time t, that is, ds/dt = rs, where r is the annual rate of interest. (a) find the amount of money accrued at the end of 3 years when $4000 is deposited in a savings account drawing 5 3 4 % annual interest compounded continuously. (round your answer to the nearest cent.) $ (b) in how many years will the initial sum deposited have doubled? (round your answer to the nearest year.) years (c) use a calculator to compare the amount obtained in part (a) with the amount s = 4000 1 + 1 4 (0.0575) 3(4) that is accrued when interest is compounded quarterly. (round your answer to the nearest cent.) s = $

Answers: 1

Answer

Business, 22.06.2019 22:20

What type of negotiating strategy requires the supplier to open its books to the purchasers? a. competitive biddingb. cost-based price modelc. price-based modeld. market-based price modele. transparent negotiations

Answers: 1

Answer

Business, 22.06.2019 23:20

You work as the sales manager for a company that sells office supplies to businesses of all sizes. because the profit margins are razor-thin, you need to ensure that you are getting the very best prices on paper, pencils, pens, post-it notes, and other office supplies from the manufacturers. when reviewing the quarterly profit statement, you realize that your costs are higher than they should be, and you trace the higher costs back to an employee who has been lax about getting competitive bids to ensure the lowest prices. when you conduct your research to determine the reason for the higher costs, and take action to bring those costs back down, in which of the key management processes are you taking part?

Answers: 3

Answer

You know the right answer?

Iris collected $150,000 on her deceased husband's life insurance policy. the policy was purchased by...

Questions

Business, 30.06.2021 20:10

Most journal entries have a counterpart on the other side of the transaction. For example, if we are buying something from a supplier, it would be an...