QUESTION 3 Always-online (Pty) Ltd took out a policy on the life of James. Always-online (Pty) Ltd has been paying the premium of R18 500 per annum for the past 3 years. Sadly James passed away and the policy proceeds of R2 750 000 paid out to the company. What amount of cover (if any) will be deemed property in James's estate? Choose the correct answer (rounded) O a. R2 200 000 O b. R2 687 570 OCRO because the policy proceeds paid to the company and is not included in the estate O d. R2 750 000 Oe. None of the above

QUESTION 3 Always-online (Pty) Ltd took out a policy on the life of James. Always-online (Pty) Ltd has been paying the premium of R18 500 per annum for the past 3 years. Sadly James passed away and the policy proceeds of R2 750 000 paid out to the company. What amount of cover (if any) will be deemed property in James's estate? Choose the correct answer (rounded) O a. R2 200 000 O b. R2 687 570 OCRO because the policy proceeds paid to the company and is not included in the estate O d. R2 750 000 Oe. None of the above

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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