MANAGEMENT

Detailed explanation-1: -The net assets subject to taxation equal the person’s total assets minus liabilities and minus the prescribed tax-deductible portion of assets left behind by the deceased that cross some minimum threshold, below which no estate tax is levied.

Detailed explanation-2: -"Gross estate” is a term used to describe the total dollar value of an individual’s assets at the time of their death. A gross estate value does not consider his figure debts owed and tax liabilities.

Detailed explanation-3: -Generally, the Gross Estate does not include property owned solely by the decedent’s spouse or other individuals. Lifetime gifts that are complete (no powers or other control over the gifts are retained) are not included in the Gross Estate (but taxable gifts are used in the computation of the estate tax).

Detailed explanation-4: -Detailed Solution. The correct answer is Sales Tax. Sales tax is an indirect tax.