A Tax-Free Gift of Up to ________ Per Year in 2018

question 15

Multiple Choice

A tax-free gift of up to ________ per year in 2018 can be given to another person.

• A) $1,000
• B) $15,000
• C) $14,000
• D) $20,000

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Definitions:

Stockholders' Equity

The ownership interest of shareholders in the assets of a corporation, after all liabilities have been subtracted.

Accounts Payable

The amounts owed by a business to its suppliers or creditors for goods and services received, representing short-term liabilities.

Accounts Receivable

Funds that are due to a company from its clients for the delivery of goods and services which payment is pending.

Net Assets

The total assets of a company minus its total liabilities; a measure of its financial health and value.