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.

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Definitions:

US Congress

The bicameral legislature of the federal government of the United States, consisting of two houses: the Senate and the House of Representatives.

Early Colonists

The first European settlers in what is now the United States, arriving in the 16th and 17th centuries.

Hostile Wilderness

Areas of natural land that are difficult for humans to inhabit or navigate due to harsh conditions.

Finite Reservoir

A resource or space that has limited capacity and can be depleted if not managed sustainably.