Which of the following statements are true regarding life income gifts?
A. Require the amount of the payment to the beneficiary to vary based on the earnings of the trust.
B. Require a fixed-dollar payment to be made annually to a designated recipient.
C. Assets are recorded at historical cost when donated.
D. Life income gifts are no longer allowed by governmental colleges and universities.
A
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A compound journal entry has more than two accounts, but the total dollar value of the debits still must equal the total dollar value of the credits.
a. true b. false
The seller is selling "as is" and does not want to complete the Seller's Property Disclosure. The broker should
a. ask the seller for a written list of all material facts b. complete the disclosure for the seller c. not be concerned because the broker is covered under caveat emptor d. tell the seller that disclosure of material facts is optional because the property is selling "as is"