Which of the following is not an allowable deduction against a decedent's gross estate?
A. Administration and funeral expenses.
B. Claims against the estate.
C. Penalty incurred as the result of a late payment of the federal estate tax.
D. Casualty and theft losses.
Answer: C. Penalty incurred as the result of a late payment of the federal estate tax.
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At the beginning of the year, Judge Manufacturing had the following account balances
Work-in-Process Inventory 20,000 Finished Goods Inventory 8,000 Manufacturing Overhead 0 Cost of Goods Sold 0 Sales Revenue 0 The following additional details are provided for the year: Direct materials placed in production $83,500 Direct labor incurred 190,500 Manufacturing overhead incurred 300,400 Manufacturing overhead allocated to production 297,900 Cost of jobs completed and transferred 501,700 The ending balance in the Finished Goods Inventory account is a ________. A) debit of $509,700 B) debit of $501,700 C) debit of $8,000 D) debit of $571,900
The role of the senior management team is to determine an organization's overall direction and then _________ the execution of the tactics and strategic thrusts.
A. command and run B. dictate and govern C. direct and manage D. give orders and operate E. tell and manage