MrAnd MrsKeating Want to Give Their Son Dudley a Total of of $30,000.They

question 46

Multiple Choice

Mr.and Mrs.Keating want to give their son Dudley a total of $30,000.They each write him a check for $15,000 so they won't have to pay any gift tax.This is an example of:

• A)fraud.
• B)tax evasion.
• C)tax exclusion.
• D)tax avoidance.
• E)tax deferred income.

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Definitions:

Shares Outstanding

The total number of a company's shares currently held by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company’s officers and insiders.

Debt Outstanding

Debt outstanding refers to the total amount of debt that a company or government has yet to repay to creditors, including all principal and interest amounts.

Stock Split

A corporate action that increases the number of a company's outstanding shares by dividing each share, which can make the stock more affordable to investors.

Market Value

The estimated amount for which an asset or company could be sold on the open market.