Match Each Statement with the Correct Choice

question 25

Multiple Choice

Match each statement with the correct choice. Some choices may be used more than once or not used at all.
-Decedent owned stock that had depreciated in value.

• A)Step-up in basis
• B)Step-down in basis
• C)Gift of installment notes receivable
• D)Gift of property that has potential for recapture of depreciation
• E)Donor's basis on date of gift appreciated property given, no gift tax due)
• F)The amount of the deceased spouse's taxable estate does not change
• G)Fair market value on date of gift
• H)Expected surviving spouse is in good health and 10 years younger
• I)No income tax consequences to the beneficiary
• J)Income in respect of a decedent IRD)
• K)No correct choice is given

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Definitions:

Deviant

Pertaining to behavior or actions that deviate from societal norms or expectations, often leading to social stigma or sanctions.

Cash Register Honesty

The principle or practice of being truthful and accurate in the handling of cash transactions and the management of cash registers.

Self-fulfilling Prophecies

A belief or expectation that an individual holds about a future event that manifests because the individual holds it.

Robert Merton

A prominent American sociologist who contributed to the sociology of science and developed the theory of deviance, including the concept of self-fulfilling prophecy.