Life insurance proceeds are generally not taxable to the
A) insured.
B) beneficiary.
C) administrator.
D) benefactor.
Answer: B
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FOB is an acronym for which of the following?
a. first on board b. free on board c. freight on board d. fee on buyer
Tax-haven subsidiaries categorically referred to as International Offshore Financial Centers, have the following characteristics EXCEPT ________
A) A low tax on foreign investment or sales income earned by resident corporations and a low dividend withholding tax on dividends paid to the parent firm. B) A stable currency to permit easy conversion of funds into and out of the local currency. This requirement can be met by permitting and facilitating the use of Eurocurrencies. C) A stable government that encourages the establishment of foreign-owned financial and service facilities within its borders. D) All of the above are tax-haven subsidiary characteristics.