Ray Purchases U

question 14

True/False

Ray purchases U.S. savings bonds which he lists as "Ray and Donna" as co-owners. Donna is Ray's daughter.
Donna predeceases Ray. No gift or estate tax consequences result from this situation.

---

Definitions:

Uniform

Clothing of a distinctive design worn by members of a particular group as a means of identification, often used by military personnel, school students, and employees of certain companies.

Society

An organized group of persons associated together for religious, cultural, political, scientific, or other purposes.

Physiological Adjustments

Changes in the body's internal processes that enable an organism to respond to environmental stressors and maintain homeostasis.

Biological Adjustment

The process by which organisms adapt to changes in their environment or conditions, through physiological modifications or genetic evolution, to maintain homeostasis.