Mark Dies on March 3, 2011

question 89

Multiple Choice

Mark dies on March 3, 2011. Which, if any, of the following items is not included in his gross estate?

• A) Interest earned (after death) on City of Cleveland bonds.
• B) Cash dividend on stock owned by Mark-declaration date was February 4, 2011, and record date was March 2, 2011.
• C) Federal income tax refund for 2010-received on March 4, 2011.
• D) Insurance recovery on auto accident that occurred on February 25, 2011.
• E) Insurance recovery from theft of sailboat on March 1, 2011.

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Definitions:

Electrons

Subatomic particles with a negative charge, found orbiting the nucleus of an atom.

Neutral Atoms

Atoms that have an equal number of protons and electrons, resulting in no overall charge.

Gain Or Loss

A financial term indicating the positive or negative difference between the value of something at two different times.

BE

An acronym that could stand for various terms depending on context, such as "Base Excess" in blood gas analysis, indicating the excess or deficit in the amount of base in the blood.