Charles and Camilla Got Divorced in 2018

question 43

Multiple Choice

Charles and Camilla got divorced in 2018.Under the terms of the decree Charles pays Camilla $50,000 in cash in each of the next five years (or until Camilla's death or remarriage) .In addition, Charles transferred a castle worth $2,000,000 to Camilla in 2018 and will pay $12,000 per year to support their son, Clyde, until he turns 19 years old.What amount (if any) is included in Camilla's gross income in 2019?

• A)$2,062,000
• B)$12,000
• C)$50,000
• D)$2,050,000
• E)None of the payments are included in gross income

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Definitions:

Peer Pressure

The influence exerted by one's peer group in encouraging a person to change their attitudes, values, or behaviors to conform to group norms.

Abstinence-Only

A sexual education approach that teaches abstaining from all sexual activities as the only sure way to avoid pregnancy and sexually transmitted infections.

Familism

A cultural value that emphasizes the importance of family connections and loyalty, often associated with collective societies.

Family Closeness

The emotional bonding and strong connections shared among family members.