2. Which statement regarding a business continuation agreement is not correct?

A.	The business may purchase life insurance and disability insurance to buy the owners stock in the event of disability or death.

B.	The agreement can provide contingency plans that address divorce, bankruptcy or professional misconduct.

C.	A business continuation agreement applies only to an incorporated business, not to a partnership.

D.

A buy-sell agreement prevents the owners stock from passing through probate. 2. In a stock redemption plan the corporation is the owner and beneficiary of the policy and pays the part of the annual premium that equals the current years increase in the cash surrender value. T/F? 3. When one partner receives a payment in recognition of services rendered during the relationship, that partner could have taxable income. T/F? 4. When one partner receives a payment in recognition of services rendered during the relationship, that partner could have taxable income. T/F? 5. When one partner receives a payment in recognition of services rendered during the relationship, that partner could have taxable income. T/F? 6. Personal and economic assumptions a client makes can affect the outcome of both an estate plan and a financial plan. T/F