III. Multiple Choice Questions$-$Gross Rstate and Allowed Deductions

Instruction: Select the best answer to each of the following questions by

encircling the letter corresponding to your choice.

Inclusion in the gross estate.

a$.$ Procecds of life insurance policy of the decedent the premiums of which

were paid from conjugal funds

b$.$ Receivable from an insolvent person determined to be uncollectible in

full

c$.$ Death benefits from private pension plan

d$.$ All of the above

Which of the following is not to be incluxled in the gross estate of citizen

decedent?

a$.$ Dividend income declared, but not yet actually recelved at date of death

b$.$ Share in partnership's profit earned immediately after date of death

c$.$ Rent income accrued before death but collected after death

d$.$ Interest income accrued at the time of death

Which of the following is considered as transfer under general power of

appointment?

a$.$ Power to use property through a will exercisable in fawor of the estate

b$.$ Power to appropriate property expressly not exercisable by decedent's

creditors

c$.$ Power to use property of the comport of person$/$s ather the decedent or

his estate

d$.$ Power to appropriate income in favor of the decedent pertinent to his

health

All is true about properties not physically included in the estate on the date

of death, but still to be included in the computation of the gross estate of

the decedent expept one, which is it$?$

a$.$ Dividends declared before the death of the stockbolder, and received by

the estate after the death of the stocicholder.

b$.$ Revocable transfer

c$.$ Partnership's profit earned priot to death of the partner.

d$.$ Irrevocable transter