All of the following statements concerning gift-splitting are true except
A. The annual gift tax exclusion allows spouses who consent to split their gifts to transfer up to $28,000 to any one person during any calendar year without gift tax liability, if the gift qualifies as a present interest.
B. To qualify for gift-splitting, a couple must be married at the time the gift is made to a third party.
C. For gift tax purposes, a husband and wife must file a joint income tax return to qualify for the gift-splitting benefits.
D. Both spouses must consent to the use of gift-splitting.
Answer: C. For gift tax purposes, a husband and wife must file a joint income tax return to qualify for the gift-splitting benefits.
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Within the relevant range of activity, the behavior of total costs is assumed to be
a) curvilinear and upward sloping. b) linear and upward sloping. c) linear to a point and then level off. d) linear and downward sloping.
Companies who balance ethics, social responsibility, and financial performance will likely
A. have a positive reputation and loyal customers. B. pay below market wage, but have happier employees. C. have fewer employees. D. have trouble meeting shareholder dividends even though they are seen as a good company.