If the insured has any incidents of ownership in a life insurance policy when he or she dies, the entire proceeds are included in his or her gross estate for federal estate tax purposes.

Joel is a limited partner in the Snow Bird Limited Partnership. He invested $5,000 to buy his

interest. Joel is one of ten partners, two of whom are general partners. Snow Bird is now insolvent, with debts exceeding assets by $96,000. The partnership creditors sue all the partners for these debts. How much additional money must Joel contribute? A) $96,000 B) $9,600 C) $5,000 D) $0 E) $4,600

Which of the following is the unplanned, emergency-type buying where buyers usually pay more?

A) maverick buying B) spot buying C) impulse purchasing D) extreme purchasing