There are __________ main types of trusts.   Multiple Choice   eleven two four six

Q: atement correctly describes a feature of a charitable split-interest trust?   A)A grantor who…

A: Charitable split-interest trust refers to the form of trust that has the characteristics of both…

Q: Which of the following expenditures resulting from a trust’s ownership of commercial real estate…

A: Expenditures for any organisation or trust can be classified into two types. They are,  1. Capital…

Q: How does a recipient not-for-profit entity record the receipt of a gift that will be transferred…

A: A not-for-profit organization, often known as an NFPO, is an organization that does not generate a…

Q: Which of the following are characteristics of the probate process? It provides for distribution of…

A: Probate is a legal procedure to ensure that any person's assets should be distributed as per his…

Q: Which of the following is an example of an essential function of a job? Select one: a. Ordering…

A: b. Performing safety inspectionsAn essential function of a job is a fundamental duty that is…

Q: riff and raff enter into partnership agreement. However, the activity. that they intend to undertake…

A: In a partnership, two or more parties agree to operate and manage a business and share the profits…

Q: What is the process of abatement? Select one: a.The establishment of how the creditors will be…

A: An abatement is a reduction or an exemption on the level of taxation faced by an individual or…

Q: For the following definitions, indicate the type of trust being described by selecting the correct…

A: Blind Trust Life Insurance Trust Living (revocable) Trust Trust for minors

Q: FINANCING DECISIONS What are the advantages and examples of Internal Financing (at least 2 for Sole…

A: Internal financing sources is defined as the funds that used to come from inside the business. There…

Q: Which of the following sale for insufficient consideration is not ubject to donor's tax? O Land used…

A: Taxes are mandatory contributions made by government agencies from individuals or businesses,…

Q: c. d. e. c. d. e. c. d. e. c. d. e. - a. - a. - a. - a. S corporation C corporation Limited…

A: The matching exercise involves associating characteristics related to the tax treatment of…

Q: which constitutional amendment guarantees citizens the right to be"secure in their persons, their…

A: Fourth Amendment protects the users from unreasonable and warrantless searches and it specifies what…

Q: which accurately describes a charitable trust? A charitable organization:

A: Charitable trusts are the organizations that are incorporated with the objective of welfare or some…

Q: .In a gratuitous bailment strictly for the benefit of the bailee, the bailee owes what duty to the…

A: Bailment means delivery of goods by one individual  known as bailor to another individual  known as…

Q: f there was a gift that would be transferred without restriction to another charity entity, how…

A: Transferring gift to charitable Institutions are quite Common in the form of goods or services.…

Q: Which of the following statements about constituent funds in the Mandatory Provident Fund (MPF)…

A: Mandatory provident fund: The scheme initiated by different states to ensure a mandatory…

Q: Which of the following are nontax characteristics of a qualified terminable interest property (QTIP)…

A: A Qualified Terminable Interest Property Trust enables the grantor to provide for his surviving…

Q: Under a deferred annuity owned by a nongrantor trust, how does the annuity's death benefit operate?…

A: The death benefit of an annuity is a feature that provides a benefit to the designated beneficiary…

Q: you will account for the sale of personal property of the Estate under which fund:

A: Requirement 1:   Answer:   Private purpose trust fund.   Explanation:   A private purpose trust fund…

Q: Which one of the following is a nontax characteristic of a custodial account established under the…

A: UTMA stands for the Uniform Transfer to Minors Account. This act gives rights to minors to receive…

Q: What type of accrual method (cash, modified, full, governmental, GASB accrual) is to be used to…

A: Accrual Basis of Accounting -In the context of business finance statements, accrual refers to the…

Q: If there was a gift that would be transferred without restriction to another charity entity, how…

A: Donating Gifts to Charitable Institutions is Quite common in the business world. Donating either in…