Gold Brands is the industry leader in golf equipment and not only has a degree of pricing power amongst its competition but also sets different prices in different markets based on demand conditions. Gold Brands is practicing a. price discrimination. b. price leadership. c. premium pricing. d. price skimming. e. psychological pricing.

Which of the following is true concerning the 5/5 lapse rule? a) the 5/5 lapse rule deems that a taxable gift has been made where a power to withdraw in excess of $5,000 or five percent of the trust assets is lapsed by the powerholder. b) the 5/5 lapse rule only comes into play with a single beneficiary trust. c) amounts that lapse under the 5/5 lapse rule qualify for the annual exclusion. d) gifts over the 5/5 lapse rule do not have to be disclosed on a gift tax return.