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• A)Interest credited a savings account on January 2 but not withdrawn.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.

---

Definitions:

Depreciation Expense

The allocated reduction in the value of a tangible asset over its useful life, reflecting wear and tear or obsolescence.

Straight-Line Depreciation

A strategy for apportioning an asset’s price equally over the duration of its usability.

Fiscal Year-End

The completion of a one-year, or 12-month, accounting period, used by governments and businesses for financial reporting and budgeting, which may or may not align with the calendar year.

Quarter Income Statement

A financial report that summarizes the revenues, expenses, and profits or losses of a company over a three-month period.