Which of the Following Statements Is True

question 32

Multiple Choice

Which of the following statements is true?

• A)Transfers to an irrevocable trust can be deemed incomplete due to powers retained by the grantor.
• B)If the donor retains the power to change the trust beneficiary, the gift is complete.
• C)Transfers to a revocable trust are completed gifts.
• D)All of the above are false.

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Definitions:

Terms Of Trade

The ratio of a country's export prices to its import prices, affecting the volume of imports that can be bought with a given volume of exports.

Economic Basis

The foundational activities or sectors upon which a region's or country's economy is built and operates, fundamentally influencing its wealth and growth.

World Trade

Refers to the exchange of goods and services across international borders or territories.

Uneven Distribution

A situation where resources, wealth, or opportunities are not evenly shared among members of a society or geographic areas, often leading to disparities.