For Each of the Following Items, Insert the Best Term

question 64

Multiple Choice

For each of the following items, insert the best term or phrase. An answer choice may be used more than once, but only one choice is the best for each descriptive phrase.
-A trust whose income can be distributed to beneficiaries and in amounts at the trustee's discretion.

• A)Complex
• B)Decedent
• C)Executor
• D)Grantor
• E)Administrator
• F)Reversionary
• G)Simple
• H)Sprinkling
• I)Trustee

---

Definitions:

Income

Funds that an individual or business receives, usually in exchange for providing a good or service or through investing capital.

Price

The financial commitment expected, necessary, or made as payment for an article.

Miles

A unit of distance measuring 5280 feet or approximately 1.609 kilometers.

Inferior Good

A type of good whose demand decreases as the income of consumers increases, opposite to normal goods.