1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
SVEN [57.7K]
3 years ago
14

When the owner of a $250,000 life insurance policy died, the beneficiary decided to leave the proceeds of the policy with the in

surance company and selected the Interest Settlement Option. If at the time of withdrawal the interest paid was $11,000, the beneficiary would be required to pay income tax on
Social Studies
1 answer:
dusya [7]3 years ago
3 0

Answer:

If at the time of withdrawal the interest paid was $11,000, the beneficiary would be required to pay income tax on the same amount of $11,000.

Explanation:

The Interest Settlement Option is usually for people who don't need much money or the remedies which the Insurance Cover provides.

Sometimes they defer payment of the proceeds and collect interest on the same whilst they decide on what do do with the money.

When a beneficiary collects this sort of interest it is usually taxable.

Cheers!

You might be interested in
Whether the client and the counselor come from a similar background or a different one, the process of building rapport and trus
musickatia [10]

Whether the client and the counselor come from a similar background or a different one, the process of building rapport and trust are closely linked to cultural norms and intercultural experiences.

<h3>What is referred to as cultural norms?</h3>

This is the term that is used to refer to what is acceptable in certain cultures which may not be in another culture. People that have the same or close cultures may be able to build rapport faster than others in a group because of the shared experiences they may have.

Hence we can say that Whether he client and the counselor come from a similar background or a different one, the process of building rapport and trust are closely linked to cultural norms and intercultural experiences.

Read more on cultural norms here: brainly.com/question/12425056

#SPJ1

5 0
1 year ago
All the elements of misrepresentation and the fact that the misrepresentation was knowingly made with an intent to deceive, have
rewona [7]

Answer:

Fraud

Explanation:

fraud

This is simply defines as a precised, well planned falsehood/deception with the sole aim so as to get an unfair or unlawful profits/gain.

The 5 elements of fraud

They simply includes: false representation of fact, knowledge of the falsehood by the party making the false representation, intent to deceive by party , reasonable reliance by the innocent party, actual loss suffered by innocent party

Misrepresentation

This is simply defined as an act of making an innocent statement that are usually false when the individual do seriously believed the statement was true at the time it was made.

Fraudulent Misrepresentation

It is a form of misrepresentation that is intentionally false and is intended to mislead others.

To recover damages caused by fraud, it includes the following:

1. Proof of harm is essentially required

2. The measure of damages is usually equal to the property's value had it been delivered as represented, less the price paid

3. courts may also award punitive or exemplary damages

4 0
2 years ago
Dangerous, rocky, fast moving water
ohaa [14]
Dangerous, rocky, fast moving water is called cataract. C<span>ataracts are sections where the river tumbles over rocks, and can be very dangerous. A well known cataract can be found in the Nile River. </span>
3 0
3 years ago
Difference between great compromise and 3/5 compromise
seropon [69]
<span>Great Compromise- Should representation in Congress be equal or determined by population? The compromise was two houses of Congress. One in which representation is equal (Senate), and one in which representation is determined by population (House of Representatives) .
Three-fifths Compromise- Should slaves count toward population when determining how many representatives a state could send to Congress? The compromise was that 3/5 of the slave population would be counted.</span><span>
</span>
4 0
2 years ago
Explain how faith I. Islam made Aribic a world language
kotykmax [81]
With the spread of the religion then the language will spread as well as more people fall into its faith
3 0
2 years ago
Other questions:
  • ____ involves thoughts of death by suicide, thinking about or planning suicide, or making a suicide attempt.
    9·2 answers
  • One of the traditional areas of study regarding federalism has been in the field of what form of grant program
    10·1 answer
  • The first section of the article introduces the idea that Gandhi was committed to nonviolent resistance to oppression. Which sec
    5·1 answer
  • Where did the United States divert money made from Iran-based missile sales? A. Cuba B. Grenada C. Nicaragua D. Taliban
    15·2 answers
  • One faces role ________ when they have tension within a single status, where as one face role ________ when they have tension be
    8·1 answer
  • A commercial crime policy form written with the Robbery or Safe Burglary of Other Property insuring agreement would cover which
    14·1 answer
  • When deciding to do a quantitative research proposal you should focus your attention on a positivist way of thinking. You should
    11·1 answer
  • Which of the following is not a reason for declining casual sport participation?
    7·1 answer
  • What is border encroahment​
    10·1 answer
  • dr. lane is monitoring the levels of specific chemicals in the human brain to see their effects on the development of psychosis
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!