Identify Which of the Following Statements Is True

question 73

Multiple Choice

Identify which of the following statements is true.

• A)The transferee is liable for the generation-skipping transfer tax (GSTT)in the case of a direct skip.
• B)Special use valuation is available for farmland to help alleviate liquidity problems.
• C)Qualified disclaimers are not available for estate planning purposes.
• D)All of the above are false.

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Definitions:

Concept

A mental representation or idea of objects, events, or relations, which underpins human knowledge and understanding.

Exemplar View

The exemplar view is a theory of categorization positing that categories are represented by actual category members rather than by an abstract prototype.

Prototype

A standard or typical example that embodies the most common features of a particular category or concept.

Schemata

Cognitive structures that organize knowledge and guide information processing.