Identify Which of the Following Statements Is False

question 51

Multiple Choice

Identify which of the following statements is false.

• A)Federal estate taxes related to income in respect of a decedent (IRD)is deductible by the estate in the year the IRD is includible in the estate's gross income.
• B)An example of deductions in respect of a decedent (DRD)are property taxes that accrued prior to the decedent's death but were not paid until after death.
• C)Items of IRD receive a step-up in basis as a result of the decedent's death.
• D)Interest earned but not received before death is IRD.

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Definitions:

Macromolecules

Large molecules essential for life, including proteins, nucleic acids, carbohydrates, and lipids, which perform a variety of vital functions in cells.

Competitive Inhibition

A form of enzyme inhibition where a substance competes with the substrate for binding to the active site of the enzyme.

Enzymes

Enzymes are biological molecules, typically proteins, that significantly speed up the rate of virtually all chemical reactions within cells without being consumed by those reactions.

Substrate

In biochemistry, the reactant that an enzyme acts upon to catalyze a chemical reaction.