A Trustee Has a Duty to Make Proper Allocation of Benefits

question 72

Multiple Choice

A trustee has a duty to make proper allocation of benefits and burdens between income beneficiaries and remaindermen. Which of the following statements is true concerning this allocation?

• A) Current expenses are chargeable to the remaindermen.
• B) Extraordinary expenses are chargeable to the remaindermen.
• C) Money paid for the use of trust property is chargeable to the remaindermen.
• D) Any profit from the use of trust property is allocated to the remaindermen.

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Definitions:

Net Present Value

A method used in capital budgeting to evaluate the profitability of an investment by calculating the difference between the present value of cash inflows and outflows.

Internal Rate of Return

A metric used in capital budgeting to estimate the profitability of potential investments, calculated as the discount rate that makes the net present value of all cash flows from a particular project equal to zero.

Time Value

The principle that money currently in hand is valued higher than an identical amount received in the future, owing to its capacity to generate earnings.

Accounting Rate of Return

A financial ratio that measures the expected profitability of an investment, calculated by dividing the average annual profit by the initial investment cost.