Identify Which of the Following Statements Is False

question 30

Multiple Choice

Identify which of the following statements is false.

• A)A power of appointment exists when a person transfers property and grants someone else the power to specify who eventually will receive the property.
• B)A person possesses a general power of appointment if the person has the power to appoint property to himself, his creditors, his estate, or the creditors of his estate.
• C)The donee's payment of the gift tax does not reduce the amount of the gift because it is treated as consideration paid to the donor.
• D)The donor must recognize as a gain the excess of the gift tax payable over the adjusted basis of the property.

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Definitions:

Adaptive Behaviour

A person's ability to adjust to new situations, meet social standards, and maintain daily living skills.

Evolutionary Theory

A theory explaining the process by which different kinds of living organisms developed and diversified from earlier forms during the history of earth.

Genetic Drift

A mechanism of evolution in which allele frequencies of a population change over generations due to random sampling effects.

Early Experience

Events or exposures occurring at young ages that significantly influence an individual's future behavior and cognitive development.