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With respect to the 'promissory note method' of funding the buy-sell agreement, which statement is true? elect one: a. The surviving shareholder will direct the
With respect to the 'promissory note method' of funding the buy-sell agreement, which statement is true? elect one: a. The surviving shareholder will direct the company to pay him a tax-free capital dividend which he can use to pay off the promissory note b. All of the insurance proceeds are credited to the Capital Dividend Account c. The corporation owns the insurance and each shareholder is appointed beneficiary of the policy on their life d. The company issues a promissory note to the estate in exchange for the deceased's shares Next pag
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