Elizabeth Is the Beneficiary of an $800,000 Insurance Policy on Her

question 69

Multiple Choice

Elizabeth is the beneficiary of an $800,000 insurance policy on her husband's life.Elizabeth can elect to receive $165,000 per year for 5 years or received the entire $800,000 in a lump sum the first year.If she elects to receive the lump sum, how much is included in income in the first year.

• A)0
• B)$5,000
• C)$165,000
• D)$800,000

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Definitions:

Sexual Function

Aspects of the human sexual response cycle, encompassing desire, arousal, orgasm, and resolution, as well as reproductive health.

Colostomy

A surgical procedure to create an opening from the colon to the surface of the abdomen, allowing waste to bypass the damaged part of the colon.

Ileostomy

A surgical procedure that creates a stoma, or opening, in the abdomen to divert the ileum's contents outside the body.

Reddish-pink Stoma

A sign describing the normal appearance of a stoma, indicative of healthy tissue around a surgical opening.