In valuation for purposes of determining gross estate, which is FALSE? Valuation1.LandHigher of value as determined by BIR Commissioner or City/Municipal/Provincial Assessor2.Unlisted shares of stock in XYZ Corp.Book value per share (or SHE/OS)3.Listed shares of Alaya Land CorporationArithmetic Mean between the highest and lowest quotation nearest to the time of death4.Shares in Wacky Wacky Golf and Country ClubBid price nearest to the time of death Group of answer choices1324

The proper valuation of assets is very important in determining gross estate of the person if no…

Answered: In valuation for purposes of…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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In valuation for purposes of determining gross estate, which is FALSE?

	Valuation
1.Land	Higher of value as determined by BIR Commissioner or City/Municipal/Provincial Assessor
2.Unlisted shares of stock in XYZ Corp.	Book value per share (or SHE/OS)
3.Listed shares of Alaya Land Corporation	Arithmetic Mean between the highest and lowest quotation nearest to the time of death
4.Shares in Wacky Wacky Golf and Country Club	Bid price nearest to the time of death

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