Match Each Statement with the Correct Choice

question 31

Multiple Choice

Match each statement with the correct choice. Some choices may be used more than once or not at all.
-Federal gift tax

• A)In the current year, Debby, a widow, dies. Two years ago she inherited a large amount of wealth from her brother.
• B)Death does not defeat an owner's interest in property.
• C)Exists only if husband and wife are involved.
• D)A type of state tax on transfers by death.
• E)Must decrease the amount of the gross estate.
• F)Annual exclusion not allowed.
• G)Cumulative in effect.
• H)Right of survivorship present as to type of ownership.
• I)Overrides the terminable interest rule of the marital deduction.
• J)Exemption equivalent.
• K)Bypass amount.
• L)No correct match provided.

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Definitions:

Quantity

A property that can exist as a multitude or a magnitude, relating to the amount or number of material or immaterial things.

Categorical Proposition

A declaration that affirms or refutes a fact for all elements within a group.

Universal Negative

A logical statement in the form of "No S are P," denying that any members of one set are members of another set.

Proposition

A formal statement put forth for consideration, often in logic or mathematics, that can be either true or false.