Identify Which of the Following Statements Is True

question 95

Multiple Choice

Identify which of the following statements is true.

• A)A trust can own S corporation stock and have a C corporation as a beneficiary as long as the corporation is the sole beneficiary.
• B)A QSST is an arrangement whereby the stock owned by a number of shareholders is placed under trust control for purposes of exercising the stock voting rights.
• C)A testamentary trust can be converted into a QSST trust.
• D)All of the above are false.

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Definitions:

Means of Production

The physical, non-human inputs used for the production of economic value, such as factories, tools, and raw materials.

Standard of Living

measures the wealth, comfort, material goods, and necessities available to a certain socioeconomic class or a geographic area.

Barter

An exchange system where goods and services are traded directly without the use of money as a medium.

Adam Smith

was an 18th-century Scottish economist and philosopher, best known for his works on the principles of free market economies.