Identify Which of the Following Statements Is True

question 74

Multiple Choice

Identify which of the following statements is true.

• A)If a marital deduction is elected on a QTIP trust transfer, property remaining in the QTIP trust is not included in the estate of the surviving spouse.
• B)The credit for state death taxes has been replaced with a deduction for state estate taxes.
• C)The unified credit is the only credit allowed against the estate tax.
• D)All of the above are false.

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Definitions:

Trade Deficits

A situation in which a country's imports of goods and services exceed its exports, leading to more money flowing out of the country than coming in.

World's Largest Exporter

The country or entity that sells the largest amount of goods to foreign countries, measured by value.

Exports

Merchandise or services originating from one country and sold to purchasers in another country.

World Bank

A global financial organization that offers loans and grants to the governments of less wealthy nations to support their capital projects.