Which of the Following Trust Agreements Allows Wealth to Be

question 47

Multiple Choice

Which of the following trust agreements allows wealth to be passed free of gift and estate taxes?

• A)Revocable trust
• B)Irrevocable trust
• C)Charitable trust
• D)Indenture trust
• E)None of the options is correct.

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Definitions:

Selling Expense Budget

A projection of the costs associated with selling a product or service, including advertising, sales staff salaries, and commissions.

Master Budget

The master budget is a comprehensive financial planning document that consolidates all of a company's individual budgets, forecasting future financial activities.

Sales

Deals involving the swapping of products or services for monetary value, which constitute the main income stream for numerous companies.

Forecasting

The process of making predictions about future events or trends based on historical data and analysis, commonly used in finance and operations planning.