Identify Which of the Following Statements Is True

question 56

Multiple Choice

Identify which of the following statements is true.

• A)If spouses are the only joint owners, only one-half of the value of the jointly owned property is included in the gross estate, regardless of the relative amount of consideration provided by either spouse.
• B)Special powers of appointment give the power holder less restricted powers than a general power of appointment.
• C)The gross estate does not include the value of life insurance policies on the decedent if the proceeds are receivable by the executor or for the benefit of the estate.
• D)All of the above are false.

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Definitions:

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An economic theory and practice dominant in Europe from the 16th to the 18th century, advocating that a nation's prosperity depends upon its supply of capital, and that the global volume of international trade is "unchangeable."

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David Hume was an 18th-century Scottish philosopher, historian, economist, and essayist known for his influential contributions to empiricism, skepticism, and naturalism in philosophy.

Scottish Philosopher

An individual from Scotland who engages in the study of fundamental questions about existence, knowledge, values, reason, mind, and language.

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