Match Each Statement with the Correct Choice

question 155

Multiple Choice

Match each statement with the correct choice. Some choices may be used more than once or not at all.
-Credit for tax on prior transfers (under § 2013)

• A)In the current year, Debby, a widow, dies. Two years ago she inherited a large amount of wealth from her brother.
• B)Death does not defeat an owner's interest in property.
• C)Exists only if husband and wife are involved.
• D)A type of state tax on transfers by death.
• E)Must decrease the amount of the gross estate.
• F)Annual exclusion not allowed.
• G)Cumulative in effect.
• H)Right of survivorship present as to type of ownership.
• I)Avoids the terminable interest rule of the marital deduction.
• J)Exemption equivalent.
• K)Bypass amount.
• L)No correct match provided.

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Definitions:

External Locus

A belief that one's successes or failures result from external factors beyond their control.

Cognitive Ability

The capacity to perform higher mental processes of reasoning, remembering, understanding, and problem-solving.

Need

A requirement necessary for an individual or organization to achieve a goal or address a problem.

Motivation

The process that initiates, guides, and maintains goal-oriented behaviors, influencing the desire and energy levels to continue engaging in a particular activity.