A married couple with 2 children and 5 grandchildren has an estate valued at $4 million. They decide to use gifts as a means to transfer some of their wealth to their family now and lower the value of their estate
If for a five-year period the couple give the maximum tax-free gift to each of their children and grandchildren, the value of their estate would be reduced to
A) $84,000.
B) $420,000.
C) $3,090,000.
D) $3,916,000.
Answer: C
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The _______________is to an oral presentation what a thesis statement is to an essay.
a. general purpose b. abstract purpose c. specific purpose d. none of the above
Phillip said to a close friend, "I am fed up with my company's continual disregard for the environment. They secretly dispose of hazardous chemicals into a nearby stream constantly. I don't know how they get away with it! I am going to call a reporter at the and reveal what my company is doing." Phillip's decision to tell somebody about his company's actions is an example of
A. operating at a preconventional level. B. violating a code of ethics. C. backstabbing his manager. D. being guided by the invisible hand. E. whistle-blowing.
Louwers Corporation recently sold a used machine for $50,000 . The machine had a book value of $75,000 at the time of the sale. What is the after-tax cash flow from the sale, assuming the company's marginal tax rate is 25 percent?
a. $43,750 b. $50,000 c. $56,250 d. $75,000
Countries outside the U.S. use financial accounting standards issued by the:
A) LLC B) SEC C) IASB D) GAAP