Which of the Following Actions in the Current Year Completed

question 37

Multiple Choice

Which of the following actions in the current year completed a taxable gift during donor K's lifetime but did not remove the transferred assets from K's gross estate?

• A)K transferred assets into a revocable trust for the sole benefit of her daughter W.
• B)K transferred assets into an irrevocable trust for the sole benefit of her brothers X and Y.K retained the right to decide what proportion of the annual income each brother would receive; however, K retained no control over the ultimate distribution of the trust corpus to X and Y.
• C)K amended a revocable trust created in 1982 for the sole benefit of her son Z to make the trust irrevocable; K retained no control over the assets of the trust.
• D)None of the above

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Definitions:

Ultimate Consumer

The final buyer who purchases products or services for personal use and not for manufacturing or resale.

Pulling Strategy

A marketing strategy designed to create demand from the end-users, effectively "pulling" the product through the distribution channel.

Demand Generation

Strategies and tactics employed by companies to create awareness and demand for their products or services, often involving marketing and sales efforts.