For 2020, the Unified Credit Is Equivalent to a Statutory

question 34

Multiple Choice

For 2020, the unified credit is equivalent to a statutory exemption of

• A)$1,000,000.
• B)$1,500,000.
• C)$780,800.
• D)$11,580,000.

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Definitions:

Allonge

Accompanying a negotiable instrument, a piece of paper that provides room for an endorsement if no room is available on the negotiable instrument itself.

Endorse

To give support or approval to something or someone, often by writing a signature on a document to authorize its validity or transfer.

Check

A special draft that orders a bank (the drawee) to pay a specified sum of money to the payee from the drawer’s account.

Unqualified

Without any conditions, limitations, or reservations; often referring to an endorsement or opinion that has no restrictions.