When an insured dies with an incident of ownership in a life insurance contract:
A) the face amount is included in the gross estate
B) the face amount is not taxed at all due to a loophole in estate tax laws
C) only the cash value at death is included in the estate
D) only is taxed due to the spouse's assumed half ownership
A
Business
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Indicate whether the statement is true or false
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Working capital is computed as:
A) Long-term assets - Long-term liabilities. B) Current assets ΒΈ Current liabilities. C) Current assets - Long-term assets. D) Current assets - Current liabilities.
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