The Code Defines a Simple Trust as Which of the Following

question 105

Multiple Choice

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

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

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Definitions:

Bulimia Nervosa

An eating disorder characterized by binge eating followed by purging, often through vomiting or using laxatives.

Anorexia Nervosa

A psychological and potentially life-threatening eating disorder characterized by an extremely low body weight relative to stature, an intense fear of gaining weight, and a distorted perception of body weight and shape.

Pepsin

An enzyme produced in the stomach that breaks down proteins into peptides during digestion.

Trypsin

Protein-digesting enzyme secreted by the pancreas.