Identify Which of the Following Statements Is False

question 93

Multiple Choice

Identify which of the following statements is false.

• A)The "blockage" regulations allow the IRS to prevent the estate's executor from electing the alternate valuation date.
• B)If the alternate valuation date is elected, changes in value that occur solely because of a "mere lapse of time" usually are to be ignored.
• C)The alternate valuation date can be elected for estate tax purposes only if the election decreases the value of the gross estate and estate tax liability (after reduction for credits).
• D)If property is sold within 6 months of the date of death, the alternative valuation date is the date of sale.

Grasp the types of business organizations and their commonality across different countries.

Understand the concept of present value and how it is affected by interest rates and time.

Apply present value formulas to calculate how much an individual should invest today to achieve future financial goals.

Calculate the present value of annuities and deferred annuities.

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Definitions:

Disaffirm

The legal act of rejecting or voiding a contract or agreement, particularly used in the context of minors who wish to void contracts entered into before reaching the age of majority.

Reasonable Value

An estimation of the fair or proper cost, worth, or price of goods or services in the marketplace.

Disaffirmed

The act of denying, rejecting, or declaring a contract or agreement void, especially in legal contexts involving minors or parties lacking capacity.

Minor

A person who is below the age of majority, legally considered not old enough to take responsibility for legal decisions.