The characteristics of a totten trust include:

a. it is a joint bank account opened by the settlor of the trust.
b. it is tentative.
c. transfer of ownership is complete only on the depositor's death.
d. All of these.

d

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In a period of rising prices, the inventory method which tends to give the highest reported net income is

a. base stock. b. first-in, first-out. c. last-in, first-out. d. weighted-average.

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Marital dissolution agreements are also known as property settlement and property and support agreements

Indicate whether the statement is true or false.

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