If a State Has Adopted the Revised Uniform Principal and Income

question 63

Multiple Choice

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

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

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Definitions:

Excretory System

The body system in animals that functions in osmoregulation and in the discharge of metabolic wastes.

Insects

Arthropods with a chitinous exoskeleton, a three-part body (head, thorax, abdomen), three pairs of jointed legs, compound eyes, and one pair of antennae.

Uric Acid

A waste product found in the blood, created by the breakdown of purines, which are substances found in certain foods and drinks.

Marine Environment

Aquatic habitats that are saline, encompassing oceans, seas, and coastal areas, and host to a diverse range of life forms.