Identify Which of the Following Statements Is True

question 59

Multiple Choice

Identify which of the following statements is true.

• A)All trusts and estates must use a calendar year-end.
• B)All estates with gross income of at least $500 must file an income tax return.
• C)Trusts are required to make estimated tax payments.
• D)All of the above are false.

---

Definitions:

Formal

Refers to something done in accordance with rules of convention or etiquette; suitable for or constituting an official or important situation or occasion.

Explicit

Clearly expressed or fully stated in the actual text.

Practical Intelligence

A facet of intelligence that involves the ability to solve everyday problems by utilizing knowledge gained from experience in order to effectively deal with the tasks and challenges encountered in daily life.

Analytical Intelligence

One of the three types of intelligence in Robert Sternberg's Triarchic Theory of Intelligence, focusing on problem-solving abilities.