Carin, a Widow, Elected to Receive the Proceeds of a $150,000

question 24

Multiple Choice

Carin, a widow, elected to receive the proceeds of a $150,000 life insurance policy on the life of her deceased husband in 10 installments of $17,500 each.Her husband had paid premiums of $60,000 on the policy.In the first year, Carin collected $17,500 from the insurance company.She must include in gross income:

• A)$0.
• B)$2,500.
• C)$10,000.
• D)$25,000.
• E)None of these.

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Definitions:

Indwelling Catheter

A catheter that is left inside the body for a prolonged period to drain urine from the bladder, commonly referred to as a Foley catheter.

Stage III and IV

Refers to advanced stages of a disease, often used to describe the severity of cancer or pressure ulcers, indicating more serious conditions.

Urinary Elimination

The process by which the kidneys filter waste from the blood and remove it from the body in the form of urine.

Condom Catheter

A type of urinary catheter for men that is placed over the penis rather than inserted through the urethra, used to manage bladder leakage.