A Trust Has the Following Results: the Uniform Act

question 45

Multiple Choice

A trust has the following results: The Uniform Act is followed. The trust document requires one-fifth of the income to be distributed annually to David and the remainder of the income to Patty. What is distributable net income?

• A) $74,000
• B) $72,000
• C) $64,000
• D) $62,000

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Depreciated

A reduction in the value of an asset over time, typically due to wear and tear or obsolescence.

Foreign Exchange

The exchange of one currency for another, or the conversion of one currency into another currency.

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U.S. Dollar

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