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.

Recognize the structure and critical elements of an effective cover letter.

Identify the differences between solicited and unsolicited cover letters and when to use each.

Appreciate the significance of avoiding negative language and focusing on positive, action-oriented wording.

Learn the importance of demonstrating knowledge about the company and industry within the cover letter.

---

Definitions:

Nonexcludability

The inability to keep nonpayers (free riders) from obtaining benefits from a certain good; a characteristic of a public good.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning their use by one person does not reduce availability to others.

Consumption Goods

Products and services that are consumed by the ultimate consumer and do not serve as input for the production of other goods or services.

Public Goods

Goods that are available for everyone to consume, regardless of whether they pay for them or not, and whose consumption by one individual does not diminish the quantity available to others.