Identify Which of the Following Statements Is True

question 3

Multiple Choice

Identify which of the following statements is true.

• A)If the annual exclusion for gifts is not used in the current year, the unused portion can be carried forward to subsequent years.
• B)Individuals may not give more than $14,000 per person in gifts each year before being taxed on the transfer.
• C)For transfer tax purposes, both the charitable contribution deduction and the marital deduction are unlimited.
• D)All of the above are false.

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Definitions:

Global Firms

Companies that operate and offer products or services in multiple countries across the world, transcending national boundaries.

Foreign Markets

Commercial markets or trading arenas outside a company's country of operation where goods, services, and securities are bought and sold.

Human Sustainability

Practices and initiatives aimed at ensuring the long-term well-being and quality of life of individuals within an organization or society.

Health Insurance

A system or policy that covers the cost of an insured individual's medical and surgical expenses.