Accounting 29-5. Which of the following is the most appropriate asset for Colleen to give to her nephew James so that he can start saving for his children's education?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Sir please help me sir urgently
Accounting
29-5. Which of the following is the most
appropriate asset for Colleen to give to her
nephew James so that he can start saving for
his children's education?
A. Colleen establishes a 529 Plan and
makes gifts to the 529 Plan.
B. Colleen has low basis securities that she
can liquidate to give James cash.
C. Colleen has an IRA she wishes to give to
James.
D. Colleen has a stock that has declined in
value that she wishes to give to James.
Transcribed Image Text:Accounting 29-5. Which of the following is the most appropriate asset for Colleen to give to her nephew James so that he can start saving for his children's education? A. Colleen establishes a 529 Plan and makes gifts to the 529 Plan. B. Colleen has low basis securities that she can liquidate to give James cash. C. Colleen has an IRA she wishes to give to James. D. Colleen has a stock that has declined in value that she wishes to give to James.
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