CSV of 110,000 and an ACB of 45,000, He Assigns Bohman owns a whole Life INS palicey with a the palkey to his wife Chone, who pay him for the Tranfee, which of the following statement about thes palicey assigment is FALSE ? Juse-
CSV of 110,000 and an ACB of 45,000, He Assigns Bohman owns a whole Life INS palicey with a the palkey to his wife Chone, who pay him for the Tranfee, which of the following statement about thes palicey assigment is FALSE ? Juse-
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Mf2.
![Q1-2 Bahman
Owns a whole Life INS palicy with a
CSV of 110,000 and an ACB of 45,000, He Assigns
the palicey to his wife Chone, who pay him for the
Tranfer, which of the following statement about thes
Policey assigment is FALSE?
(4) Bahman is deemed to have received proceeds of 45,000!
Choine is Deemed to have acquired the policy with an
ACB
The Assignment results in a palicy gain as
Spousal rollover applies.
The Assignment Results in a policy gain of
65000 because chome paid for the transfer
45000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fda83e277-61db-4e7f-a947-a5328cbf1be4%2F26788423-f263-4cd3-b6cd-a8d50ac49e4f%2F277bxt_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Q1-2 Bahman
Owns a whole Life INS palicy with a
CSV of 110,000 and an ACB of 45,000, He Assigns
the palicey to his wife Chone, who pay him for the
Tranfer, which of the following statement about thes
Policey assigment is FALSE?
(4) Bahman is deemed to have received proceeds of 45,000!
Choine is Deemed to have acquired the policy with an
ACB
The Assignment results in a palicy gain as
Spousal rollover applies.
The Assignment Results in a policy gain of
65000 because chome paid for the transfer
45000
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