Identify Which of the Following Statements Is False

question 30

Multiple Choice

Identify which of the following statements is false.

• A)A power of appointment exists when a person transfers property and grants someone else the power to specify who eventually will receive the property.
• B)A person possesses a general power of appointment if the person has the power to appoint property to himself, his creditors, his estate, or the creditors of his estate.
• C)The donee's payment of the gift tax does not reduce the amount of the gift because it is treated as consideration paid to the donor.
• D)The donor must recognize as a gain the excess of the gift tax payable over the adjusted basis of the property.

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Definitions:

Understanding

The ability to comprehend or grasp the nature, significance, or explanation of something.

Self-Esteem

Self-esteem refers to an individual's overall subjective sense of personal worth or value.

Scold

To reprimand or criticize someone harshly for a wrongdoing.

Humiliate

To cause a person a painful loss of pride, self-respect, or dignity; to embarrass or shame someone severely.