Which of the Following Is Not True Regarding the Evaluation

question 56

Multiple Choice

Which of the following is not true regarding the evaluation of an estate for tax purposes?

• A)Assets including a home are included.
• B)Liabilities including home mortgage are subtracted.
• C)Funeral and administrative expenses are subtracted.
• D)Life insurance proceeds are not included.

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Definitions:

Commercial

Pertaining to business activities, transactions, or establishments primarily focused on profitability.

Necessary Control

Essential mechanisms or systems required to regulate the operation of machines, processes, or systems to achieve desired outcomes.

Protection Components

Devices or systems designed to protect electrical circuits or equipment from damage due to overcurrent, overvoltage, or other electrical faults.

Motor Starter

A device that combines a contactor with overload protection to safely start and stop a motor.