Identify Which of the Following Statements Is True

question 70

Multiple Choice

Identify which of the following statements is true.

• A) The estate tax on interests in certain closely held businesses may be paid in installments over a 15- year period if elected.
• B) The period for payment of estate taxes may be extended if the executor shows "reasonable cause" for not being able to pay some, or all, of the estate tax liability on the regular due date.
• C) An executor may elect to postpone payment of the estate tax attributable to a remainder or reversionary interest until eight months after the interests of the other person(s) terminate.
• D) All of the above are false.

---

Definitions:

GMAT Scores

Standardized test scores used primarily for admissions decisions into graduate business programs, assessing quantitative, verbal, analytical writing, and integrated reasoning skills.

ANOVA Table

A statistical table used in analysis of variance that summarizes the sources of variance in a data set to help determine if there are significant differences.

Critical Value

A point on a statistical distribution that represents a threshold beyond which a given effect is considered statistically significant.

Normally Distributed

Describes a type of continuous probability distribution for a real-valued random variable where observations in a dataset are symmetrically distributed around the mean.