Classify Each of the Following Independent Statements

question 129

Multiple Choice

Classify each of the following independent statements:.
-Note receivable issued by a grandson and forgiven by the decedent in her will.

• A)Some or all of the asset is included in the decedent’s gross estate.
• B)None of the asset is included in the decedent’s gross estate.

---

Definitions:

Business Cycle

The fluctuations in economic activity that an economy experiences over a period, typically seen in periods of expansion and contraction.

Strike Activity

Actions taken by workers, typically union members, where they refuse to work in order to protest against their employer's labor practices or to push for better conditions or pay.

Market Forces

Market forces are the economic factors affecting the supply and demand of goods and services in a market, influencing prices, production, and distribution in a capitalist economy.

Employer-Initiated

Actions or policies that are begun or implemented by an employer, often relating to workplace management, changes in operation, or employee relations.