Estates and Trusts

question 4

Multiple Choice

Estates and trusts

• A) receive a deduction for administrative expenses not otherwise deducted on the estate tax return (Form 706).
• B) are taxed on state and municipal bond interest.
• C) are not taxed on capital gains.
• D) receive a $1,000 personal exemption.

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Definitions:

Salt Uptake

The process by which plants, animals, and other organisms absorb salt (sodium chloride) and other ions from their environment.

Adventitia

The outermost layer of the wall of a blood vessel or other tubular structure, consisting of connective tissue.

Cortex

The outer layer of an organ or structure, such as the cerebral cortex of the brain or the cortex of a plant root or stem.

Medulla

The innermost part of an organ or structure, such as the medulla oblongata in the brain which controls vital body functions.