A Completed Gift Is a Donation

question 4

Multiple Choice

A completed gift is a donation

• A) that is placed beyond the dominion and control of the donor.
• B) given under a revocable trust by a settlor who is still alive.
• C) made to a charity in a will by a testator who is still alive.
• D) None of the answers are correct.

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Definitions:

Sale

A transaction between two parties where the buyer receives goods, services, or property in exchange for money.

Lease

A contractual agreement where one party (the lessee) pays the other (the lessor) for use of an asset for a specified period.

Express Warranties

Explicit guarantees provided by a seller to a buyer, assuring certain standards of quality and reliability for a product.

Brochure

A printed piece of marketing material that provides information about a product, service, or company.