Identify Which of the Following Statements Is False

question 3

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) The donor must recognize as a gain the excess of the gift tax payable over the adjusted basis of the property.
• 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) 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.

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Definitions:

Certification Process

A systematic procedure that organizations or industries follow to verify that a product, service, or professional meets predefined standards and criteria.

Certification Elections

Elections conducted to determine the labor union that will represent a group of employees in bargaining with their employer.

Certified

Having official recognition or guaranteed conformance to specified standards, often through the completion of a testing or evaluation process.

Authorization Cards

Documents signed by employees to indicate their wish to be represented by a union in dealings with their employer.