Identify Which of the Following Statements Is False

question 54

Multiple Choice

Identify which of the following statements is false.

• A)A gift occurs when a revocable trust is funded.
• B)A gift does not occur until the transfer is complete.
• C)A transfer is incomplete (and not subject to the gift tax)if the donor retains the power to name new beneficiaries or to change the interests of the beneficiaries.
• D)Transfers to an irrevocable trust can be deemed incomplete.

---

Definitions:

Market Forces

The natural dynamics of supply and demand that determine the prices and availability of goods and services in an economy without external influences.

Comparisons

The act or instance of examining the similarities and differences between two or more items.

Same Industry

Refers to companies that operate in the same sector or category of business, often competing with each other or serving similar markets.

Intangible Assets

Non-physical assets that possess value due to their intellectual or proprietary characteristics, such as patents and trademarks.