The Chen Trust Is Required to Distribute Its Accounting Income

question 2

Multiple Choice

The Chen Trust is required to distribute its accounting income every year, one-half to Missy Chen, and one-half to the local church's homeless shelter. What is the Chen Trust's personal exemption?

• A) $0
• B) $100
• C) $300
• D) $600

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Definitions:

Education Programs

Structured initiatives designed to impart knowledge and skills to participants.

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Official papers that record agreements, rights, or responsibilities, and are enforceable by law, such as contracts, wills, and deeds.

Paralegal

A trained professional who assists attorneys in the delivery of legal services, performing tasks such as legal research, document drafting, and case management under the supervision of an attorney.