On April 1, Martha Opens a Joint Bank Account with Ned

On April 1, Martha opens a joint bank account with Ned and deposits $1,000. Ned deposits $500 into the account on April 2. On May 2, Martha withdraws $750. Two days later, Ned withdraws $600.

A) Martha has made a gift to Ned of $1,000.
B) Ned has made a gift to Martha of $500.
C) Martha has made a gift to Ned of $100.
D) Martha has made a gift to Ned of $600.

Correct Answer:

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