Which is generally classified as community property?
A) Income earned from separate property
B) Proceeds from the sale of separate property after the marriage
C) Settlement proceeds for personal injury
D) Inheritance after the marriage
Answer: A) Income earned from separate property
Income earned from separate property is generally classified as community property. Separate property includes property acquired during marriage by gift, inheritance, purchase from separate funds, sale of separate property, settlement or judgment for personal injury, or written contract with a spouse.
You might also like to view...
Online recruiting
a. now accounts for about 80% of external hires. b. occurs on social networking Web sites such as Facebook, LinkedIn, and Twitter. c. is considered discriminatory because they require computer literacy. d. suffers from not attracting a large enough number of inquiries.
When a company offers a premium, consumers pay full price for the good or service
Indicate whether the statement is true or false