In this progress report, you will be focusing on depositing into a single account. Create a Raptor program with the account details for the customer below. Allow Robert the functionality to deposit to his account. After a transaction is completed, the program will update the running balance and give the customer a detailed description of the transaction. Do not be concerned about authenticating the username in this module.

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.