When property is transferred, gift and estate taxes are based on the
a. fair market value of the assets on the date of transfer.
b. replacement cost of the transferred property.
c. transferor's original cost of the transferred property.
d. transferor's adjusted basis of the transferred property.
e. fair market value less adjusted basis on the date of the transfer.
a
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If Kate promises a stereo system to Uli, which of the following holds true with regard to the idea of consideration?
A. Kate's promise should not be supported by consideration. B. Uli will not be able to enforce Kate's promise if he has not done anything in return. C. Uli's consideration should be an act and not a promise. D. Uli has to perform an act in return for Kate's promise.
A creative environment requires
a. that everyone's ideas be implemented. b. that leaders resist change. c. that followers are encouraged to suggest innovations. d. all of these choices.
A random sample of 64 students at a university showed an average age of 25 years and a sample standard deviation of 2 years. The 95% confidence interval for the true average age of all students in the university is
A. 24.6 to 25.4. B. 24.5 to 25.5. C. 23.0 to 27.0. D. 20.0 to 30.0.
Many outsiders consider the Chinese system of guanxi to be like nepotism where decisions are made based on family ties instead of an objective assessment of ability.
Answer the following statement true (T) or false (F)