If a State Has Adopted the Revised Uniform Principal and Income

question 76

Multiple Choice

If a state has adopted the Revised Uniform Principal and Income Act, which of the following statements is correct?

• A)The state law definition of trust income will preempt any other definitions.
• B)The definition of trust income in the trust document will preempt all other definitions.
• C)Under state law, tax-exempt interest will not be allocated to income.
• D)The definition of principal in the trust document must classify capital gains as principal.

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Definitions:

Cerebellum

A part of the brain located at the back of the skull, important for coordinating movement and balance.

Reticular Formation

A complex network of nerve pathways in the brainstem that plays a key role in controlling arousal and attention.

Hippocampus

A part of the brain associated with memory formation, organization, and storage, as well as with spatial navigation.

Cerebellum

A part of the brain located at the back of the skull, crucial for motor control, coordination, precision, and accurate timing.