Irrevocable trusts can lower estate taxes, but may incur gift taxes

Karl, a small business owner, practices cronyism when he gives a job to an unqualified friend who

A) helps shovel his driveway. B) has strong potential to learn the job in question quickly. C) has worked for a competitor. D) is in desperate need of a job.

What is a BATNA?

a. It is a list of throwaway items to be used during the negotiation. b. It is the settlement range that has been accepted by both the parties. c. It is a list of common key issues that are critical for both the parties. d. It is a negotiator's best alternative if no settlement is reached.