Classify Each of the Following Statements

question 137

Multiple Choice

Classify each of the following statements.
-Homer purchases a U.S. savings bond listing title as: "Homer, payable to Bernice upon Homer's death." Bernice is Homer's sister.

• A)No taxable transfer occurs.
• B)Gift tax applies.
• C)Estate tax applies.

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Definitions:

Free French Forces

were French volunteers in World War II who fought against German occupation and Vichy France, under the leadership of General Charles de Gaulle.

Charles de Gaulle

A French army officer and statesman who led the Free French Forces during World War II and later became President of France.

Atomic Bomb

A weapon of mass destruction that derives its destructive force from nuclear reactions, either fission or a combination of fission and fusion, first used in warfare by the United States in World War II.

Hiroshima

A city in Japan that was the first to be subjected to nuclear warfare when it was bombed by the United States on August 6, 1945, during World War II.