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Anarel [89]
4 years ago
6

Over the years Rianna paid $65,000 in premiums on a life insurance policy with a face value of $100,000. Upon reaching 65, while

still in good health, Rianna surrendered the policy and collected $95,000. In the year of collection, Rianna will reporta. no income.b. $5,000 of taxable income.c. $30,000 of tax loss.d. $95,000 of taxable income.
Business
1 answer:
KatRina [158]4 years ago
5 0

Answer:

$30,000 of taxable income

Explanation:

Given:

Total amount paid = $65,000

Face value of life insurance policy = $100,000

Surrender value receive = $95,000

Note: The amount received from the life insurance policy is non-taxable income but if any gain happens from the surrender of the policy, the amount of gain will be taxable.

Computation of Taxable income:

Taxable income = Surrender value receive - Total amount paid

Taxable income = $95,000 - $65,000

Taxable income = $30,000

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Explanation:

Advocacy groups are important components of consumer rights in the capitalistic market and are essential for maintaining good business practices in the capitalistic society where competition can take a hold over the moral situation that should in  a sense dominate.

The advocacy groups that work this way are the ones who are a group of concerned citizens who band together to try to influence the business practices of specific industries, businesses, and professions. This is important for consumer rights for this sector to be strong.

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3 years ago
The theory of purchasing power parity assumes that.
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PPP is a method of comparing the absolute purchasing power of currencies and, to some extent, the living standards of people in different countries.

<h3 /><h3>What is purchasing power parity?</h3>

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5 0
2 years ago
Dear Ms. Gonzalez: Although I am disappointed to hear that you have selected another candidate for the marketing position, I app
adoni [48]

Answer:

It emphasize on applicant's continued interest because when you create a follow up letter after rejection, candidate should be confident and persistent . He should show confidence in meeting the job requirements.

Explanation:

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3 years ago
Where did the indestrial revolution starts and why did it beinging there​
Marat540 [252]

Answer:

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2 years ago
Thermopolis, Inc. reported retained earnings of $490,953 on December 31, 2017. During the year, Thermopolis recorded net income
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Answer:

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Explanation:

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3 years ago
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