Question
On the date of her death, Ava owned an insurance policy (face amount of $500,000) on the life of Benjamin (Ava's son) with herself as
On the date of her death, Ava owned an insurance policy (face amount of $500,000) on the life of Benjamin (Ava's son) with herself as the designated beneficiary. The policy has a cash surrender value of $50,000 when Ava died. How much is included in Ava's gross estate?
a.$0
b.$50,000
c.$250,000
d.$500,000
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Accounting Information Systems
Authors: Robert Hurt
4th Edition
78025885, 78025884, 9781259293795 , 978-0078025884
