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:

Conservatism

A political and social philosophy that promotes preserving traditional institutions, practices, and customs in the face of modernization or change.

Contract with America

A legislative agenda proposed by the Republican Party during the 1994 U.S. Congressional election campaign.

Republican Plan

Typically references strategies or policies advocated by the Republican Party, which may vary depending on the context or historical period.