Identify Which of the Following Statements Is False

question 42

Multiple Choice

Identify which of the following statements is false.

• A) The Uniform Act on principal and income requires depreciation to be charged against income.
• B) State trust law preempts the trust document when defining 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:

Wynton Marsalis

An acclaimed American trumpeter, composer, and educator, known for his contributions to jazz and classical music.

Pyrotechnics

The art and science of creating and using fireworks and other explosive devices for entertainment, signaling, or military applications.

Fireworks Shell

The container that holds the explosive and pyrotechnic materials of a firework, designed to create a spectacular burst in the sky.

Pyrotechnics

The science and craft of creating fireworks and other explosive effects for entertainment, ceremonial, or signaling purposes.