Which of the Following Statements Is True

question 84

Multiple Choice

Which of the following statements is true?

• A)If the donor does not pay the gift tax, the donee is personally liable for the tax.
• B)When a married couple elects gift splitting, each spouse is potentially liable for 50% of the gift tax.
• C)Gift tax returns are due March 15 in the year following the gift.
• D)Donors can request an automatic extension of time to pay their gift tax even when they don't request to have an income tax extension.

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Definitions:

Quality Supplies

Materials or goods of high standard or grade used in the production of products or in the provision of services.

Virtual Organization

A structure enabled by digital technologies that allows individuals or entities across different locations to collaborate and function as a single entity.

Strategic Alliances

Strategic alliances are agreements between two or more parties to pursue a set of agreed-upon objectives while remaining independent organizations.

Information Technology Utilization

The process of deploying and using information and communication technologies effectively in various operations and activities.