Over the Years Rianna Paid $65,000 in Premiums on a Life

question 81

Multiple Choice

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 report

• A)no income.
• B)$30,000 of taxable income.
• C)$5,000 of tax loss.
• D)$95,000 of taxable income.

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Definitions:

Program Flow

The sequence or order in which instructions or operations are executed within a software program or automated system.

MCR Instructions

Instructions within programmable logic controllers that define the start and end of a Master Control Reset, affecting how certain program blocks execute.

Conditional MCR Output

This refers to a specific condition under which a Master Control Reset (MCR) output in a Programmable Logic Controller (PLC) system acts, affecting the operation of connected devices or circuits.

Frictional Unemployment

Temporary unemployment experienced by individuals transitioning between jobs or entering the workforce.