Classify Each of the Following Statements

question 39

Multiple Choice

Classify each of the following statements.
-Using his own funds, Horace establishes a savings account designating ownership as follows: "Horace and Nadine as joint tenants with right of survivorship." Nadine predeceases Horace.

• A)No taxable transfer occurs.
• B)Gift tax applies.
• C)Estate tax applies.

---

Definitions:

Consensual Nature

Pertains to the aspect of agreements or decisions that are reached by all members of a group collectively.

Kingsley Davis

A sociologist and demographer known for his work on human society, population, and urbanization.

Twentieth Century

The twentieth century is the period from January 1, 1901, to December 31, 2000, marked by significant global changes, including technological advancements, world wars, and shifts in political, social, and cultural landscapes.

Structural Functionalism

An outlook from sociology that sees society as an intricate system where its components collaborate to foster unity and maintain equilibrium.