Which of the Following Statements Is(are) True for Both Gratuitous

question 107

Multiple Choice

Which of the following statements is(are) true for both gratuitous and testamentary transfers?

• A) A charitable and a marital deduction are allowed in computing the taxable transfer.
• B) An applicable credit of up to $14,000 per donee per year reduces the tax on any transfer.
• C) An annual exclusion offsets any transfer up to $14,000.
• D) An election can be made to split a transfer between spouses.
• E) All of the choices are true.

---

Definitions:

And Operator

A logical operator (&& in C/C++) that returns true if both operands are true and false otherwise.

Bit Operations

Operations that manipulate individual bits within binary numbers, including AND, OR, XOR, NOT, and bit shifting.

Exclusive OR Operator

A binary operator that returns true only when its operands differ (one is true, the other is false).

Exclusive OR Operator

The Exclusive OR Operator is a binary operator that returns true only when its two operands differ (one is true, the other is false).