The Yellow Trust Incurred $10,000 of Portfolio Income

question 152

Multiple Choice

The Yellow Trust incurred $10,000 of portfolio income. Its corporate trustee paid fiduciary fees of $1,000 therefrom, and also paid $1,000 in premiums for a life insurance policy on Marcia, the grantor of the trust. How much gross income does Marcia include with respect to these trust activities?

• A) $10,000
• B) $9,000
• C) $1,000
• D) $800

---

Definitions:

Conflict Theory

A theoretical framework in sociology that emphasizes the social, political, or material inequality of a social group, critiquing the broad socio-political system.

Functionalism

A perspective in sociology and anthropology that views society as a complex system whose parts work together to promote solidarity and stability.

Sources of Bias

Factors and influences that lead to a deviation from neutrality in judgment or representation, affecting the objectivity of conclusions or perceptions.

Aggregate

A collection or sum of individuals, items, or data points brought together for analytical or statistical purposes.