A Simple Trust

question 15

Multiple Choice

A simple trust

• A)may make charitable distributions.
• B)may make discretionary distributions of principal.
• C)may accumulate income.
• D)is required to distribute all of its income currently.

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Definitions:

Wrongful Discharge

The unjust or illegal termination of an employee's contract of employment.

Legal Requirements

Statutory obligations that individuals or companies must follow as prescribed by law, which can vary by jurisdiction and industry sector.

Hot-Stove Rule

A principle in discipline management likening the consequences of misconduct to touching a hot stove, emphasizing that discipline should be immediate, consistent, impersonal, and informative.

Involuntary Turnover

The termination of employees' positions due to factors beyond their control, such as layoffs or downsizing, not due to personal performance.