A ________ Gives the Individual Establishing the Trust the Ability

question 55

Multiple Choice

A ________ gives the individual establishing the trust the ability to direct income from the trust to his or her spouse over the spouse's life, and then to whomever else the individual wants the funds to go.

• A) Q-TIP trust
• B) Sprinkling trust
• C) Family trust
• D) Living trust

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Definitions:

Public Utilities

Companies that provide essential services to the public, such as water, electricity, gas, and telecommunications, often regulated by the government.

ATC Curve

The Average Total Cost curve, it represents the per-unit total cost of production (fixed plus variable costs divided by total output) at various levels of output.

Short Run

In economics, the short run is a period during which at least one input, such as factory size or machinery, is fixed and cannot be changed.

Long Run

A period of time in which all factors in a production process can be varied, allowing for the adjustment to changes in market or economic conditions.