A trustee has a duty to make proper allocation of income items. Which of the following statements is true concerning this allocation?
A) Ordinary income is allocated to the remainderman.
B) Ordinary expenses are chargeable to the income beneficiary.
C) Rents and royalties to the remainderman.
D) Extraordinary repairs to the income beneficiary.
B
You might also like to view...
Marketing research can be used to test a hypothesis.
Answer the following statement true (T) or false (F)
Which of the following businesses is most likely to purchase a fidelity bond?
A. A law office that only receives payments by credit card B. A doctor's office that only receives payments through insurance companies C. A bank that receives cash and checks D. A seller at farmer's markets who operates his or her business alone
Suppose the equilibrium exchange rate for dollars to euros is 1.2 $/€ representing 2 billion dollars traded, and the German consumers have recently started buying the latest iPads
What would you expect to happen to the equilibrium quantity and price in the currency market? A) The equilibrium price and quantity would fall. B) The equilibrium price and quantity would rise. C) The equilibrium price would rise, and quantity would fall. D) The equilibrium price would fall, and quantity would rise.
Many of the vision problems office workers have today are related to
a. driving at night. b. computer usage. c. looking at the sun. d. the angle of the chair.