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3 years ago

A gift that might otherwise be viewed as a future interest in a trust can be treated as a present interest gift if:

1 answer:

8 0

Complete Question. A gift that might otherwise be viewed as a future interest in a trust can be treated as a present interest gift if:

The beneficiary has the right to contribute to the trust.
The beneficiary has the right to withdraw a contribution (gift) to the trust.
The beneficiary has the right to make income distributions to the trust.
The beneficiary has the right to make corpus contributions to the trust.

Answer:

2. The beneficiary has the right to withdraw a contribution (gift) to the trust.

Explanation:

The Crummey power, to convert future interest gift to a present interest gift beneficiaries are allowed to withdraw contributions to a trust within a specific period of time usually 30 to 60 days.

The total withdrawal amount should be equal to the annual gift tax exclusion in a specific time period otherwise the asset will belong to the trust.

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4. Problems and Applications Q4 A price change causes the quantity demanded of a good to increase by 12%, while the total revenu

Klio2033 [76]

Answer:

False

Explanation:

Demand is inelastic

Demand is inelastic if a change in price has little or no effect on quantity demanded. The coefficient of elasticity is less than one because the percentage change in price is greater than the percentage change in quantity demanded

If demand is inelastic and prices fall, the quantity demanded would rise. But the rise in quantity demanded is less than the price reduction. Therefore, total revenue would fall.

I hope my answer helps you

6 0

4 years ago

Which is an example of social responsibility in the business world

NNADVOKAT [17]

A. Offering a safe product will make more people want to buy that particular product.

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4 years ago

During team meetings Amber Downing always notices that Rhoma Law tends to ask innumerable questions and suggest ideas at each di

ahrayia [7]

Answer: context

Explanation:

The factor that has most likely influenced Downing's perception of Law is context.

Context refers to the situation for the occurence of a event. It's vital to look at the circumstances that were present at the time of the behavior of a person when attempting to understand the person's behavior.

Assuming both of them were part of team meetings where almost all member gave their own suggestions, then Law would not have drawn as much attention from Downing.

6 0

3 years ago

At December 31 of the current year, Cart Company has a $16,000 Notes Receivable from a customer. Interest of 5% has accrued for

lyudmila [28]

Answer: $23,200 as total current asset for the period

Explanation:

Note Receivable has a value $16,000

Interest on Note = 5%

Accrued for 9 months

Yearly Interest accrued = 16,000*5%*12= 9,600

Interest for 9 months = 9600/12*9 = 7,200

Balance sheet Extract

Other Income

Int Accrued on Note Receivable $7,200

Current Asset

Note Receivable $16,000

Int Accrued on Note Receivable $7,200

Total Current Asset $23,200

6 0

4 years ago

A general requirement for the informed consent is that no informed consent may include any exculpatory language. Exculpatory lan

s2008m [1.1K]

Answer:

I waive any possibility of compensation for injuries that I may receive as a result of participation in this research.

Explanation:

The given definition in the scenario is that ''Exculpatory language is that which waives or appears to waive any of the subject's legal rights or releases or appears to release those conducting the research from liability for negligence.''

Therefore in the consent statement requesting that a subject state ''I waive any possibility of compensation for injuries that I may receive as a result of participation in this research, directly defines the content of an exculpatory language.

The statement is waiving the responsibility of researchers for negligence and at the same time waiving the legal rights of the research participants

8 0

3 years ago