Which of the following life insurance proceeds is not included in the gross estate of the deceased? A. Insurance proceeds with SSS. B. Insurance proceeds where the beneficiary is a third person revocably appointed. C. Insurance proceeds under a group insurance taken out by the employee for himself as beneficiary. D. Insurance proceeds covering the life of the insured decedent where the estate of the deceased, his executor or administrator is the beneficiary whether or not the insured retained the power of revocation.

Which of the following life insurance proceeds is not included in the gross estate of the deceased? A. Insurance proceeds with SSS. B. Insurance proceeds where the beneficiary is a third person revocably appointed. C. Insurance proceeds under a group insurance taken out by the employee for himself as beneficiary. D. Insurance proceeds covering the life of the insured decedent where the estate of the deceased, his executor or administrator is the beneficiary whether or not the insured retained the power of revocation.

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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