Advanced Accounting 12th Edition by Joe Ben Hoyle,Thomas Schaefer , Timothy Doupnik

Exercise 4

What is the difference between a testamentary trust and an inter vivos trust
A) A testamentary trust conveys money to a charity; an inter vivos trust conveys money to individuals.
B) A testamentary trust is created by a will; an inter vivos trust is created by a living individual.
C) A testamentary trust conveys income to one party and the principal to another; an inter vivos trust conveys all monies to the same party.
D) A testamentary trust ceases after a specified period of time; an inter vivos trust is assumed to be permanent.