Identify Which of the Following Statements Is False

question 12

Multiple Choice

Identify which of the following statements is false.

• A) If the alternate valuation date is elected, changes in value that occur solely because of a "mere lapse of time" usually are to be ignored.
• B) The "blockage" regulations allow the IRS to prevent the estate's executor from electing the alternate valuation date.
• C) If property is sold within 6 months of the date of death, the alternative valuation date is the date of sale.
• D) The alternate valuation date can be elected for estate tax purposes only if the election decreases the value of the gross estate and estate tax liability (after reduction for credits).

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Definitions:

Graduates

Individuals who have successfully completed a degree program at a college, university, or other educational institution.

Continuing Education

Educational programs aimed at adults who have completed formal schooling, focusing on personal or professional development.

Employed

The state of having paid work or owning a job, implying engagement in activities that generate income.

Conditional Distributions

The probability distribution of a random variable given that another random variable takes on a certain value.