Which of the Following Is Not a Credit for Purposes

question 67

Multiple Choice

Which of the following is not a credit for purposes of computing the federal estate tax liability?

• A)credit for gift tax paid on pre-1977 gifts
• B)credit for estate taxes paid on certain prior transfers
• C)a credit for foreign death taxes
• D)All of the above are credits for the federal estate tax.

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Definitions:

Minor Flaws

Small defects or imperfections in an item or product that do not significantly affect its use or value.

Course of Performance

The conduct between parties under a contract that indicates what they consider to be the agreement's requirement, used to interpret the contract's terms.

Course of Dealing

The conduct between parties in previous transactions that establishes a common basis for their understanding.

Conforming Goods

Products or materials that meet the specifications and standards outlined in a contract or agreement between buyer and seller.