Which of the Following Transactions Constitutes a Completed Gift Made

question 40

Multiple Choice

Which of the following transactions constitutes a completed gift made by Ellen, a widow, in the current year?

• A)Ellen deposits $100,000 cash and Matt deposits $5,000 cash into a joint savings account. Matt does not withdraw anything during the current year.
• B)Ellen names Larry the beneficiary of a $100,000 life insurance policy on Ellen's life. The beneficiary designation is revocable.
• C)Ellen transfers property to a revocable trust, naming the bank as trustee. The trustee must pay out all the income to Ed over Ed's lifetime, beginning next year.
• D)Ellen reimburses her granddaughter $15,000 for her tuition at medical school.

Explore the cultural variations in the concept and importance of self-esteem.

Understand the development of moral reasoning and distinguish different perspectives.

Explain the cognitive and social processes that underlie changes in the sense of self during middle childhood.

Analyze the influence of digital media on self-presentation and self-exploration in young adolescents.

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Definitions:

Secondary Effects

Unintended consequences of economic actions, which can be positive or negative and occur as indirect results.

Economic Actions

Measures and decisions taken by individuals, firms, or governments that affect the allocation of resources and distribution of goods and services in an economy.

College Graduates

Individuals who have completed a degree program at a college or university.

Quantitative Disciplines

Fields of study that focus on the use of mathematical models and statistical techniques to analyze data and solve problems.