The Gable Trust Reports $20,000 Business Income and $10,000 Exempt

question 137

True/False

The Gable Trust reports $20,000 business income and $10,000 exempt interest income, and it paid a $3,000 fiduciary fee. Gable's distributable net income (DNI) includes $9,000 for the interest income.

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Definitions:

Conservation of Number

A cognitive developmental milestone reached by children, usually by age 7, where they understand that the quantity of an item remains the same despite changes in its shape or arrangement.

Adjacent

Situated near or next to something else, typically with the implication of being directly neighboring or touching.

Experimenter

An individual who conducts scientific research to test hypotheses and observe outcomes in a controlled environment.

Occlusion

In dentistry, it refers to the alignment of teeth and the way in which upper and lower teeth fit together. In medical terms, it often refers to the blockage or closure of a blood vessel.