Choose the Word or Phrase in [ ] Which Will

question 19

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-The [irrevocable living trust | pour-over will] contains a provision passing the estate to an existing living trust.

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Definitions:

International Trade

The exchange of goods and services between countries, which can involve exports, imports, and the trading of resources.

Comparative Advantage

The ability of an entity to produce goods or services at a lower opportunity cost than others, leading to more efficient trade possibilities.

Opportunity Costs

Opportunity costs represent the benefits an individual, investor, or business misses out on when choosing one alternative over another.

Mutually Beneficial Trade

A trade agreement between parties that provides gains or advantages to all involved parties.