Which of the Following Would Not Be Included in the Corpus

question 19

Multiple Choice

Which of the following would not be included in the corpus or principal of an estate?

• A)​accrued interest and declared dividends on investments held by decedent
• B)​personal valuables
• C)​life insurance proceeds where designated beneficiary is the estate
• D)​all of the above are included

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Definitions:

Payroll Register

A document that records details about employees' pay for each pay period, including gross salary, deductions, and net salary.

Federal Income Tax

A tax levied by the IRS on the annual earnings of individuals, corporations, trusts, and other legal entities.

Quarterly Returns

Financial reports generated every three months by companies to provide insights into their financial health, performance, and operational activities.

Pay Schedule

A list showing how often an employee is paid, such as weekly, biweekly, or monthly.