Match Each Statement with the Correct Choice

question 159

Short Answer

Match each statement with the correct choice. Some choices may be used more than once or not at all.
a.In the current year, Debby, a widow, dies. Two years ago she inherited a large amount of wealth from her brother.
b.Scheduled to be eliminated by 2010.
c.Exists only if owners are husband and wife.
d.A type of state death tax.
e.A certificate of deposit listed as "B. Brown, payable on proof of death to my daughter, Evelyn."
f.Annual exclusion not allowed.
g.Cumulative in effect.
h.Right of survivorship present as to type of ownership.
i.Avoids the terminable interest rule of the marital deduction.
j.Exclusion amount
k.Replaced by a deduction.
l.No correct match provided.
-Totten trust

---

Definitions:

Fixed Salary

A consistent set amount of pay received by an employee, typically on a monthly or bi-monthly basis, regardless of hours worked.

Business Risk

The potential for a company to experience losses or fail to achieve its financial goals due to economic conditions, operational issues, or other unforeseen factors.

Economic Profit

The total revenue a firm earns minus both its explicit and implicit costs, representing surplus value created from production.

Economic Loss

A monetary loss that occurs when the cost of producing a good or service exceeds the revenue gained from selling it.