Identify Which of the Following Statements Is True

question 93

Multiple Choice

Identify which of the following statements is true.

• A) A testamentary trust can be converted into a QSST trust.
• B) A trust can own S corporation stock and have a C corporation as a beneficiary as long as the corporation is the sole beneficiary.
• C) 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.
• D) All of the above are false.

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Definitions:

Group Integrity

The cohesion and unity within a group, often referring to the members' sense of belonging and mutual support within the collective.

Harmonious Relationships

Describes interactions between individuals or groups that are characterized by mutual understanding, cooperation, and a lack of conflict.

Poverty Line

A calculated income level used to determine an individuals or families' economic status and whether they are considered living in poverty.

Census

A systematic enumeration of the population, typically recording various details of individuals.