Identify Which of the Following Statements Is False

question 71

Multiple Choice

Identify which of the following statements is false.

• A)A conduit approach-that is, the income has the same character in the hands of the beneficiary as it has to the trust-governs for fiduciary income taxation.
• B)Essentially, an estate or trust is taxed on any income it earns, whether retained or distributed.
• C)Many of the same rules that determine the calculation of taxable income for individuals apply to trusts.
• D)Trusts receive a personal exemption.

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Definitions:

Cellular Card

Used to connect a laptop to a cell phone network.

Cell Phone Network

A cell phone network is a wireless telecommunications network that allows mobile phone users to connect to the public switched telephone network and the internet.

IEEE 802.11

A set of standards for implementing wireless local area network (WLAN) communications.

Nonvolatile

Refers to a type of computer memory that retains its stored information even after power is turned off, like SSDs and flash drives.