Rahim has a property worth OMR 500,000. He took insurance from Company A worth OMR 300,000 and from Company B OMR 100,000. In an accident, he incurred a loss of OMR 250,000 to the property. How much can he claim from the insurance company?

Rahim has a property worth OMR 500,000. He took insurance from Company A worth OMR 300,000 and from Company B OMR 100,000. In an accident, he incurred a loss of OMR 250,000 to the property. How much can he claim from the insurance company?

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter14: Property Transactions: Determination Of Gain Or Loss And Basis Considerations

Section: Chapter Questions

Problem 4DQ

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Question

Q11

100,000.
In an accident, he incurred
company
OMR 500,000
OMR 300,000
OMR 250,000
OMR 400,000

Rahim has a property worth OMR 500,000. He
took insurance from Company A worth OMR
300,000 and from Company B OMR 100,000.
In
an accident, he incurred a loss of OMR 250,000 to
the property. How much can he claim from the
insurance company?

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