Identify Which of the Following Statements Is True

question 20

Multiple Choice

Identify which of the following statements is true.

• A)The unified credit is the only credit common to both the gift and estate tax computation.
• B)For estate tax purposes, publicly traded stocks are valued at their closing price on the date of death.
• C)Stocks traded on a stock exchange are valued at the closing price for the date of death unless the alternate valuation date is elected.
• D)All of the above are false.

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Definitions:

Sporophyte Generation

The diploid phase in the life cycle of plants and algae that produces spores through meiotic division, alternating with the gametophyte generation.

Gametophyte Generation

The sexual phase in the life cycle of plants and algae that produces gametes.

Seed

The reproductive unit of angiosperms and gymnosperms, capable of developing into another such plant.

Vascular Plants

Plants that possess specialized tissues, xylem and phloem, for water and nutrients transportation throughout the organism.