Identify Which of the Following Statements Is True

question 95

Multiple Choice

Identify which of the following statements is true.

• A)A trust can own S corporation stock and have a C corporation as a beneficiary as long as the corporation is the sole beneficiary.
• B)A QSST is an arrangement whereby the stock owned by a number of shareholders is placed under trust control for purposes of exercising the stock voting rights.
• C)A testamentary trust can be converted into a QSST trust.
• D)All of the above are false.

---

Definitions:

Ethnic Groups

Collectives of people who share a common identity based on factors like culture, language, ancestry, or national origin.

Cultural Differences

Variations in the ways of life, beliefs, norms, and practices among different societies or groups of people.

Paramount Chiefs

The highest-ranking leaders in certain tribal societies who exercise authority over a number of smaller chiefs and their tribes.

Kpelle Chiefdoms

A historical political organization of the Kpelle people, primarily located in Liberia and Guinea, characterized by hierarchical leadership structures.