Which of the Following Statements Is Not a Characteristic of DNI

question 41

Multiple Choice

Which of the following statements is not a characteristic of DNI (distributable net income) ?

• A)DNI can be composed of both nontaxable and taxable amounts of income.
• B)Any trust taxable income allocable to corpus under state law is not included in DNI.
• C)In computing DNI, no deduction for a personal exemption is allowed.
• D)DNI is the amount of fiduciary accounting income that the trustee may distribute under the terms of the governing instrument.

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Definitions:

Ambrosia

In mythology, ambrosia is often considered the food or drink of the gods, granting longevity or immortality upon consumption.

Ambrosia

In classical mythology, the food of the gods, or in general usage, something extremely pleasing to taste or smell.

Rocks Oxidize

The chemical process where rocks react with oxygen, leading to changes in their mineral composition and often causing them to weaken or crumble.

Earth's Surface

The outermost layer of the Earth, consisting of the crust and parts of the upper mantle that interact directly with the biosphere and atmosphere.