Classify Each of the Following Statements

question 39

Multiple Choice

Classify each of the following statements.
-Using his own funds, Horace establishes a savings account designating ownership as follows: "Horace and Nadine as joint tenants with right of survivorship." Nadine predeceases Horace.

• A)No taxable transfer occurs.
• B)Gift tax applies.
• C)Estate tax applies.

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Definitions:

Mass Media Advertising

Promotional activities that use widespread outlets, such as television, newspapers, and the internet, to communicate with large audiences.

Cable Television

A system of delivering television programming to paying subscribers via radio frequency (RF) signals transmitted through coaxial cables, or in more recent systems, light pulses through fiber-optic cables.

Word-of-Mouth Referral

A natural and unpaid form of promotion in which satisfied customers recommend products or services to their friends or family members.

BCG Matrix

A strategic business tool devised by the Boston Consulting Group to help organizations analyze their portfolio of products or services based on market growth and market share.