Identify Which of the Following Statements Is True

question 27

Multiple Choice

Identify which of the following statements is true.

• A)The alternate valuation date can be used for estate tax purposes only if the election increases the value of the gross estate.
• B)If the alternative valuation date is elected, changes in value that occur solely because of "mere lapse of time" usually are to be ignored.
• C)The gross estate, a federal law concept, is generally smaller than the probate estate, a state law concept.
• D)All of the above are false.

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Definitions:

Boiling

The rapid vaporization of a liquid, which occurs when a liquid is heated to its boiling point, the temperature at which the vapour pressure of the liquid equals the pressure exerted on the liquid by the surrounding environmental pressure.

Celsius

A scale of temperature on which water freezes at 0° and boils at 100° under standard conditions.

Classification

The systematic arrangement in categories or groups based on shared characteristics or criteria.

Fevers

An increase in body temperature above the normal range, usually indicating an underlying condition or infection.