Match Each Statement with the Correct Choice

question 70

Multiple Choice

Match each statement with the correct choice. Some choices may be used more than once or not used at all.
-Election by estate will reduce the amount of the gross estate.

• A)Income in respect of a decedent IRD)
• B)Discretionary extension of time to pay estate tax
• C)Extension of time to pay Federal estate tax involving interest in closely held business
• D)Special use valuation as to certain realty
• E)Depreciation recapture potential eliminated
• F)Alternate valuation date
• G)Election to split gifts
• H)No correct choice is given

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Definitions:

Controls

Defense mechanisms (also called countermeasures).

Exclusive Rights

Legal rights granted to an individual or organization, giving them sole exploitation over a creative work, invention, or proprietary information.

Invention Or A Process

A novel and useful idea, device, method, or discovery that can be protected under patent law.

Harm

Damage or injury that is done or sustained by someone or something.