MrsPaley Died on July 14,2018

question 41

True/False

Mrs.Paley died on July 14,2018.Her husband has not remarried.The Paleys' two children,ages 34 and 36,are financially independent.Mr.Paley may file as a surviving spouse in 2018 and 2019.

---

Definitions:

Common Stock

Common stock represents ownership shares in a corporation, giving holders voting rights and a share in the company's profits through dividends.

Par Value

A nominal value assigned to share of stock in the charter of a corporation, unrelated to market value.

Legal Expense

Costs incurred in the process of legal advice, litigation, or other legal services.

Paid-In Capital

Funds raised by a company through the sale of its shares to investors, over and above the par value of these shares.