Which of the Following Would Not Be Income in Respect

question 26

Multiple Choice

Which of the following would not be income in respect of a decedent who dies on January 4?

• A)Interest credited a savings account on January 2 but not withdrawn.
• B)A dividend declared on December 31 payable on January 15.
• C)Salary payable on January 10.
• D)$30,000 in the decedent's 401-K plan.

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Definitions:

Merger

A combination of two or more corporations in which only one of the corporations continues to exist.

Shareholder Approval

The consent given by shareholders, usually through a voting process, for certain decisions or actions proposed by a company's management or board.

Consolidation

The process of combining two or more entities into one, often to streamline operations and reduce costs.

Absorbed Corporation

A company that has been merged into another entity, losing its previous separate identity.