The Code Defines a "Simple Trust" as Which of the Following

question 141

Multiple Choice

The Code defines a "simple trust" as which of the following?

• A)One which is allowed to file Form 1041-EZ.
• B)One which has only one income beneficiary.
• C)One which must distribute its accounting income every year.
• D)One whose grantor was a living individual.

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Definitions:

North and South America

Two continents that form the majority of the Western Hemisphere, known for their diverse cultures, histories, and significant geographic features like the Amazon River and the Rocky Mountains.

Spanish Explorers

Conquistadors and adventurers from Spain who traveled to the New World in the 15th and 16th centuries, leading to the Spanish colonization of the Americas.

Conquistadors

Conquistadors were the Spanish soldiers, explorers, and fortune hunters who took part in the conquest of the Americas in the 16th century, leading to the extensive territorial expansions of Spain.

Missionaries

Individuals sent on a religious mission, often to promote their faith in foreign countries.