Identify Which of the Following Statements Is False

question 105

Multiple Choice

Identify which of the following statements is false.

• A)State trust law preempts the trust document when defining income.
• B)The Uniform Act on principal and income requires depreciation to be charged against income.
• C)A statement in the trust instrument concerning the allocation of depreciation to principal or income overrides a provision of state law.
• D)The Uniform Act allocates royalties to both principal and income.

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Definitions:

Ascospores

Spores produced inside an ascus, which is a type of spore-bearing structure found in fungi belonging to the Ascomycota phylum.

Plasmogamy

The fusion of the cytoplasm from two distinct fungal or algal cells, typically as part of sexual reproduction, preceding the fusion of nuclei.

Karyogamy

The fusion of two haploid nuclei; follows fusion (plasmogamy) of cells from two sexually compatible mating types.

Lichens

A symbiotic association between a fungus and an algae or cyanobacteria, living together to form a single, distinct organism that often appears as leafy or crusty growths on rocks and trees.