Inter Vivos Trusts

question 38

Multiple Choice

Inter vivos trusts

• A)are formed when you still wish to own an asset.
• B)may not be used for fixed assets such as a cottage.
• C)are continually and actively managed by the settlor.
• D)pay taxes on earnings at the highest marginal rate.

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Definitions:

Trade Deficits

A situation where the value of a country's imports exceeds the value of its exports.

Offshoring

The practice of shifting work previously done by domestic workers to workers located abroad.

Trading Partner

A country or organization which engages in international trade with another entity, typically exchanging goods, services, or information.

Comparative Advantage

The ability of a country or firm to produce a particular good or service at a lower opportunity cost than its trading partners, forming the basis of international trade.