Which of the Following Statements Is True in Relation to Trustee's

question 1

Multiple Choice

Which of the following statements is true in relation to trustee's powers of maintenance under the Trustee Act 1925, s.31?

• A) The statutory power of maintenance allows the trustees to pay for the essentials of life only.'
• B) The statutory power of maintenance would not allow the trustees to pay private school or university tuition fees.
• C) The statutory power of maintenance allows the trustees to make payments directly to the minor, or to others on the minor's behalf.
• D) The statutory power of maintenance does not allow the trustees to make payments to a minor's parent because of the potential for fraud.

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Definitions:

Interest Charged

Interest charged refers to the cost of borrowing money, usually expressed as a percentage of the principal loan amount to be paid over a specific period.

Sales Taxes Payable

Liabilities accounted for the sales tax collected from customers on taxable transactions, which are due to be paid to the relevant tax authorities.

Sales Tax Expense

The cost incurred by a seller related to the sales tax charged on goods or services, which is often passed through to the consumer.

Interest Charged

Interest charged is the amount lenders impose on borrowers for the use of borrowed money, often expressed as an annual percentage rate.