Identify Which of the Following Statements Is False

question 19

Multiple Choice

Identify which of the following statements is false.

• A)A future interest includes reversions, remainders, and other interests, which are limited to commence in use, possession, or enjoyment at some future date or time.
• B)The gift tax exclusion is available only for a gift of a present interest.
• C)A trust for a minor (Sec. 2503(c)trust)must distribute all of its income currently in order to qualify for the annual exclusion.
• D)For a transfer made in trust, each beneficiary is deemed to be a separate donee.

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Definitions:

Perceive

To become aware or conscious of something through the senses, especially the ability to see, hear, or become aware of something by touching or feeling.

Adaptable

Having the ability to adjust or modify oneself to different conditions or environments.

Adjust

To change something slightly to make it more suitable, effective, or appropriate.

Shampoo

A hair care product designed to clean the scalp and hair, removing dirt, oil, and other unwanted particles.