Identify Which of the Following Statements Is False

question 37

Multiple Choice

Identify which of the following statements is false.

• A)For purposes of trust administration, the term "sprinkling" relates to the discretionary authority of the trustee to distribute income among various beneficiaries.
• B)The IRS may terminate an estate as a taxpayer after the expiration of a reasonable period of time for performance of the administrative duties.
• C)Assets in a revocable trust do not avoid probate.
• D)Assets in a revocable trust are included in the gross estate.

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Definitions:

Predetermined Set

A predefined collection of items, options, or criteria established before a process or decision-making.

Response Options

The set of choices provided to respondents in a survey or questionnaire, enabling them to express their opinion, preference, or feedback on a given question.

Questionnaire

A form that features a set of questions designed to gather information from respondents and thereby accomplish the researchers’ objectives; questions can be either unstructured or structured.

Closed-Ended Questions

Questions designed to elicit a specific, limited response, typically answered by "yes," "no," or chosen from a set of provided options.