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.

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Definitions:

Competencies

A combination of skills, knowledge, and abilities required to perform a job effectively.

Skills Model

A framework that identifies a set of capabilities which are believed to contribute to effective leadership.

Leadership

The act of guiding or influencing a group towards achieving a common goal, through inspiration, strategy, and direction.

Health Savings Account

A tax-advantaged savings account available to taxpayers in the United States who are enrolled in a high-deductible health plan, designed to pay for qualified medical expenses.