Identify Which of the Following Statements Is True

question 74

Multiple Choice

Identify which of the following statements is true.

• A) A qualified disclaimer must be made within six months after (a) the day the property is transferred, or (b) the day the person receiving the property becomes age 21, whichever is later.
• B) An individual making a qualified disclaimer can determine to whom the disclaimed property will pass.
• C) One of the tests that a qualified disclaimer must meet is that it must be an irrevocable, unqualified, written refusal to accept property.
• D) All of the above are false.

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Definitions:

Externality

A cost or benefit that affects a party who did not choose to incur that cost or benefit, often leading to market failure.

Vaccinations

A medical intervention that uses a vaccine to stimulate an individual's immune system to develop immunity to a specific disease.

Transmit

To transmit means to send or convey information, energy, or matter from one place or thing to another.

Market Power

The ability of a firm or group of firms to control prices or exclude competition within a market.