Match Each Statement with the Correct Choice

question 143

Short Answer

Match each statement with the correct choice. Some choices may be used more than once or not used at all.
a.Living trusts
b.Income in respect of a decedent (IRD)
c.Conservation easement
d.Discretionary extension of time to pay estate tax (§ 6161)
e.Estate freeze-corporations
f.Extension of time involving interest in closely held business (§ 6166)
g.Special use valuation as to certain realty (§ 2032A)
h.Recapture potential under §§ 1245 and 1250 eliminated
i.Alternate valuation date (§ 2032)
j.Election to split gifts (§ 2513)
k.No correct choice is given
-Can postpone payments of the estate tax for up to 10 years from due date of the return.

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Definitions:

Diminishing Marginal Returns

A principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase and may decrease.

Number of Workers

The total count of individuals engaged in the labor force of an organization, sector, or economy at any given time.

Units of Output

The quantity of product or service produced by a company, industry, or economic sector.

Marginal Product

The additional output resulting from the use of one more unit of a production input, holding other inputs constant.