List and discuss the three major functions of distributable net income (DNI) as that amount is used under Federal income tax law.
What will be an ideal response?
| ? | DNI determines the maximum amount that can be taxed to the beneficiaries for the tax year. |
| ?? | The makeup of DNI carries through to the beneficiaries (e.g., if DNI is constituted of 25% dividend income, each beneficiary’s distribution also is accounted for as 25% dividend income). |
| ?? | DNI is used to compute the distribution deduction for the entity and is the maximum amount the entity can use as a distribution deduction for the year. |
You might also like to view...
Summarize the problems associated with frequency or loyalty programs
What will be an ideal response?
Which of the following is a characteristic of the standard normal probability distribution?
A. The mean, median, and the mode are not equal B. The distribution is not symmetrical C. The standard deviation must be 0 D. The standard deviation must be 1
_____ measure the ability of an organization to convert assets into the cash it needs to pay off liabilities that come due in the next year.
-profitability ratios -activity ratios -liquidity ratios -leverage ratios
A stimulus-response presentation refers to a format that
A. emphasizes probing and listening by the salesperson to identify needs and interests of prospective buyers. B. assumes that given the appropriate stimulus by a salesperson, the prospect will buy. C. focuses on problem identification, where the salesperson serves as an expert on problem recognition and resolution. D. consists of information that must be provided in an accurate, thorough, and step-by-step manner to inform the prospect. E. involves adjusting the presentation to fit the selling situation, such as knowing when to offer solutions and when to ask for more information.