Identify Which of the Following Statements Is True

question 52

Multiple Choice

Identify which of the following statements is true.

• A) A present interest is an unrestricted right to the immediate use, possession, or enjoyment of property or the income from property.
• B) The gift tax exclusion is available only for a gift of a present interest.
• C) A purpose of the annual exclusion is to eliminate the necessity of accounting for and reporting small gifts such as those made for weddings and Christmas.
• D) All of the above are true.

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Definitions:

Comma Splice

The grammatical error of joining two independent clauses with a comma without an appropriate conjunction or punctuation mark.

Comma Splice

A grammatical mistake where two independent clauses are joined incorrectly with only a comma without an appropriate conjunction.

Independent Clauses

Sentences or parts of sentences that can stand alone as complete thoughts because they contain both a subject and a verb.

Punctuation

The system of symbols, including commas, periods, question marks, and exclamation points, used in writing to separate sentences and clarify meaning.