The Code Defines a "Simple Trust" as Which of the Following

question 100

Multiple Choice

The Code defines a "simple trust" as which of the following?

• A) One which is allowed to file Form 1041-EZ.
• B) One which has only one income beneficiary.
• C) One whose grantor was an individual who still is alive.
• D) One which must distribute its accounting income every year.

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Definitions:

Public Park

A publicly owned area of land, often green and open, designated for recreational use by the community.

Socially Optimum

The optimal distribution of resources and production from a societal perspective, where social welfare is maximized.

Social Perspective

The viewpoint focusing on how societal contexts influence individuals and groups, including norms, values, and social institutions.

Marginal Private Benefit

The extra advantage gained by either the consumer or producer from the consumption or production of an additional unit of a product or service.