Identify Which of the Following Statements Is False

question 92

Multiple Choice

Identify which of the following statements is false.

• A) A direct skip skips one or more generations.
• B) The transferee is liable for the generation- skipping transfer tax (GSTT) in the case of a direct skip.
• C) The generation- skipping transfer tax (GSTT) is imposed to assure that some form of transfer taxation is imposed once a generation.
• D) Special use valuation is available for farmland to help alleviate liquidity problems.

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Definitions:

Type B Personality

A personality typology characterized by a relaxed, patient, and easy-going nature, contrasted with Type A behavior.

Competitive

Being inclined to compete or striving to win or be more successful than others.

Psychophysiological Disorders

Physical illnesses that are thought to be caused or exacerbated by mental factors such as stress and anxiety.

Social Conditions

Refers to the societal factors and circumstances that influence individuals' lifestyles, behaviors, and attitudes.