Transfer taxes

A transfer is either bilateral or unilateral

• True

• False

The transfer for adequate consideration is

• Exempt from transfer tax

• Exempt from income tax

• Subject to transfer tax

• B and C

Transfers for full or adequate consideration is subject to

• Income tax

• Transfer tax

• Both A and B

• Neither A or B

Gratuity is not characterized by

• Absence of consideration

• Presence of adequate consideration

• Presence of inadequate consideration

• A and C

Unilateral transfers are subject to transfer tax

• True

• False

Bilateral transfers are subject to income tax

• True

• False

Unilateral transfers include sales and barters

• True

• False

Bilateral transfers include inheritance and donations

• True

• False

Donations inter-vivos are subject to estate tax

• True

• False

A donation mortis causa is subject to donor's tax

• True

• False