Identify Which of the Following Statements Is False

question 19

Multiple Choice

Identify which of the following statements is false.

• A)A future interest includes reversions, remainders, and other interests, which are limited to commence in use, possession, or enjoyment at some future date or time.
• B)The gift tax exclusion is available only for a gift of a present interest.
• C)A trust for a minor (Sec. 2503(c)trust)must distribute all of its income currently in order to qualify for the annual exclusion.
• D)For a transfer made in trust, each beneficiary is deemed to be a separate donee.

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Definitions:

Automobile Accident

An unforeseen and unplanned event involving vehicles, which may result in damage or injury.

Recklessness

A disregard for or indifference to the risks of one's actions and their potential harm to oneself or others.

Wet and Slippery

A description of surfaces that are covered with, or have been made slick by, a liquid, making them potentially hazardous.

Fundamental Attribution Error

The tendency to overemphasize personal disposition and underemphasize situational factors when analyzing others' behaviors.