Identify Which of the Following Statements Is False

question 21

Multiple Choice

Identify which of the following statements is false.

• A) For a transfer made in trust, each beneficiary is deemed to be a separate donee.
• B) A trust for a minor (Sec. 2503(c) trust) must distribute all of its income currently in order to qualify for the annual exclusion.
• C) A future interest includes reversions, remainders, and other interests, which are limited to commence in use, possession, or enjoyment at some future date or time.
• D) The gift tax exclusion is available only for a gift of a present interest.

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Definitions:

Sales Representatives

Individuals who represent a company by selling its products or services to customers, often working to meet sales targets and maintain customer relationships.

Democratic Leader

A leadership style where decisions are made based on the input of team members, promoting participation and equality among the group.

Employee Participation

Refers to the involvement of employees in decision-making processes and contributing to the improvement of organizational practices.

Tasks Over People

A management approach that prioritizes work and tasks achievement over attending to the well-being and needs of employees.