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:

Financial Settlements

Agreements reached between parties in dispute, where monetary compensation is made to settle the matter without going to trial.

Harassment

Unwanted conduct affecting the dignity of men and women in the workplace, which may lead to a hostile work environment.

Reasonable Person

A legal standard used to determine how an average person would responsibly act under specific circumstances.

Sexual Harassment

Unwelcome sexual advances, requests for sexual favors, and other verbal or physical conduct of a sexual nature that affects an individual's employment, interferes with work performance, or creates a hostile work environment.