Identify Which of the Following Statements Is False

question 3

Multiple Choice

Identify which of the following statements is false.

• A) A power of appointment exists when a person transfers property and grants someone else the power to specify who eventually will receive the property.
• B) The donor must recognize as a gain the excess of the gift tax payable over the adjusted basis of the property.
• C) The donee's payment of the gift tax does not reduce the amount of the gift because it is treated as consideration paid to the donor.
• D) A person possesses a general power of appointment if the person has the power to appoint property to himself, his creditors, his estate, or the creditors of his estate.

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Definitions:

Maintaining

The process of keeping something in a state of good repair or condition.

Career Objective

A statement of one's professional goals and aspirations, often included at the beginning of a resume.

Communication Skills

The ability to convey or share ideas and feelings effectively to others through speech, writing, and other forms of interaction.

Chronological Resumé

A resume format that lists work experience and education in reverse chronological order, starting with the most recent.