In Order for an Item to Be Considered a Gift

question 4

Multiple Choice

In order for an item to be considered a gift:

• A)It must be given without any characteristics of control left with the giftor.
• B)The item cannot be exchanged for an agreement to provide a contra gift or service.
• C)It must represent a contract.
• D)Both a and b are required for an item to be considered a gift.
• E)Both a and c are required for an item to be considered a gift.

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Definitions:

Median Price

The middle value in a set of prices, with half of the data points being higher and half being lower.

Quartiles

Three values represented by Q1, Q2, and Q3 that divide the distribution into four subsets that each contains 25% of the data.

Sales Tax

A levy charged by an authority on the transactions of specific products and services.

License Plates

License Plates are metal or plastic plates attached to motor vehicles for official identification purposes, displaying a unique number or alphanumeric code issued by governmental agencies.