Identify which of the following statements is false.
A) A power of appointment exists when a person transfers property and grants someone else the power to specify who eventually will receive the property.
B) A person possesses a general power of appointment if the person has the power to appoint property to himself, his creditors, his estate, or the creditors of his estate.
C) The donee's payment of the gift tax does not reduce the amount of the gift because it is treated as consideration paid to the donor.
D) The donor must recognize as a gain the excess of the gift tax payable over the adjusted basis of the property.
C) The donee's payment of the gift tax does not reduce the amount of the gift because it is treated as consideration paid to the donor.
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Although discrimination on the basis of a person's sex is illegal, there are no laws against sexual harassment.
Answer the following statement true (T) or false (F)
A railroad would not be liable for injuries to a passenger caused by
a. a washout of the tracks by a tornado. b. an accident resulting from defective brakes. c. failure of the engineer to spot a vehicle on the tracks. d. all of these.
______________________________accountants collect and analyze accounting data to support criminal or civil legal issues.
Fill in the blank(s) with the appropriate word(s).
If a North Carolina firm contracts to buy toys from China, and the contract does not specify which law applies, in case of dispute, which law will apply:
a. the law of the buyer (North Carolina) b. the law of the buyer's nation (federal law) c. the law of the seller nation d. the UCC e. the CISG