Which of the Following Gifts Is Not Eligible for the Annual

question 28

Multiple Choice

Which of the following gifts is not eligible for the annual exclusion?

• A)$20,000 given to a spouse
• B)The remainder interest in a trust
• C)$100,000 given to North Carolina State University.
• D)All are eligible for the annual exclusion.

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Definitions:

Intuitive Thought

The ability to understand or know something without conscious reasoning or direct evidence.

Symbolic Function

The ability of a person, especially a child during developmental stages, to represent objects, people, and events with symbols or words.

Concrete-Operational Stage

A stage in Piaget's theory of cognitive development, occurring roughly between the ages of 7 and 12 years, during which children gain a better understanding of mental operations and physical concepts.

Conservation Of Liquid

a cognitive skill, identified by Piaget, that allows a child to understand that the quantity of a liquid remains the same despite changes in the shape of its container.