Identify Which of the Following Statements Is True

question 32

Multiple Choice

Identify which of the following statements is true.

• A) If a marital deduction is elected on a QTIP trust transfer, property remaining in the QTIP trust is not included in the estate of the surviving spouse.
• B) The unified credit is the only credit allowed against the estate tax.
• C) The credit for state death taxes has been replaced with a deduction for state estate taxes.
• D) All of the above are false.

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Definitions:

Thrust Fault

A type of fault in which the upper block, above the fault plane, moves up and over the lower block.

Anticline

A type of fold in sedimentary rocks that resembles an arch, with the oldest rock layers at its core, indicative of compressional tectonic forces.

Syncline

a downward-curving (trough-like) fold in rock layers where the youngest materials are at the center.

Monocline

A geological fold in which all strata are inclined in the same direction, forming a step-like feature in the landscape.