MrFinlay, a Retired Individual Whose Only Source of Income Was

question 61

Multiple Choice

Mr.Finlay, a retired individual whose only source of income was pension receipts, dies on August 15, 2011.By what date must Mr.Finlay's final tax return be filed?

• A)April 30, 2012.
• B)February 28, 2012.
• C)February 15, 2012.
• D)December 31, 2011.
• E) None of the above.

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Definitions:

Payee

The party in a financial transaction who receives the payment.

Negotiating

Negotiating involves discussing terms and conditions with the goal of reaching an agreement or compromise on matters of business, trade, or interpersonal issues.

Dishonored

A term referring to a financial instrument, such as a check, that has been refused payment by the bank upon presentation.

Indorse

To sign the back of a financial instrument, thus transferring ownership or to endorse it.