A Tax-Free Gift of Up to ________ Per Year Can

question 55

Multiple Choice

A tax-free gift of up to ________ per year can be given to another person.

• A)$1,000
• B)$5,000
• C)$13,000
• D)$20,000

---

Definitions:

Total Fixed Costs

The combined sum of all costs that do not change with the level of production or sales over a short period.

Master Budget

The total of all individual budgets within an organization, projecting all major financial activities over a period.

Flexible Budget

An adaptable budget configured to change with differing levels of activity or volume.

Return on Investment

A performance measure used to evaluate the efficiency or profitability of an investment or compare the efficiency of several different investments.