Devry ACCT Week 7 quiz

Devry ACCT Week 7 quiz - Grade Details 1...

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Grade Details 1. Question: (TCO 10) With respect to a stock interest in a closely held corporation, which, if any, of the following  factors work to  increase  the gross estate value of the interest? Your Answer: The stock is not  marketable. A minority interest is  involved. The profits of the  business are less  than the industry  average. The blockage rule  applies. INCORRECT None of the above. CORRECT ANSWER Instructor Explanation: All choices listed tend to decrease the value of the interest.   Points Received: 0 of 2 2. Question: (TCO 10) With respect to a stock interest in a closely held corporation, which, if any, of the following  factors work to  increase  the gross estate value of the interest? Your Answer: Instructor Explanation:
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All choices listed except a. tend to decrease the value of the interest.   Points Received: 0 of 2 3. Question: (TCO 10) Michael, age 80, has accumulated about $2 million in net assets.  Among his assets are the  following marketable securities held as investments.    Basis    FMV              Boxer Corporation stock $200,000 $250,000              Retriever Corporation stock   400,000   250,000              Dalmatian Corporation stock   100,000   250,000 Michael would like to donate (either by lifetime or testamentary transfer) $250,000 in value to his church.   In addition, to consummate a land deal, he needs $250,000 in cash.  Looking solely to tax considerations 
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Devry ACCT Week 7 quiz - Grade Details 1...

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