Following Are the Fair Market Values of Wilma's Assets at Her

question 91

Multiple Choice

Following are the fair market values of Wilma's assets at her date of death: The executor of Wilma's estate did not elect the alternate valuation date.The amount includible in Wilma's gross estate is

• A) $150,000.
• B) $550,000.
• C) $800,000.
• D) $950,000.

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Definitions:

Accounting Equation

Assets equal liabilities plus owners’ equity.