To Prove Successful in Freezing the Value of an Interest

question 74

Multiple Choice

To prove successful in freezing the value of an interest in a family limited partnership (FLP) , which, if any, of the following techniques is desirable?

• A)The FLP should be created just prior to death to avoid the appearance of being tax motivated.
• B)The FLP should be largely funded with personal assets (e.g., personal residence).
• C)When valuing the FLP interest, apply a large discount, to provide a safety zone for later bargaining with the IRS.
• D)Appraisals of the assets transferred to the FLP should be avoided, as they tend to limit the size of any discount claimed.
• E)None of the above.

Distinguish between various theories explaining gender role differences.

Comprehend the concept of gender schema and its role in cognitive understanding of sex differences.

Identify behaviorist explanations for the development of gender attitudes and roles.

Gain awareness of factors contributing to child maltreatment and neglect.

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Definitions:

Accounts Receivable

Money owed to a business by its clients for goods or services delivered but for which payment has not yet been received.

Credit

An accounting entry that increases the balance of liabilities and equity accounts, and decreases the balance of assets accounts. It is also the provision of resources (such as money) by one party to another with the expectation of repayment.

Accrued Interest

Interest that has accumulated over a period but has not yet been paid or officially recorded.

Maturity Date

The date on which a financial instrument, such as a bond or loan, is due to be repaid in full.