Duration measures the sensitivity of a bond's prices to changing interest rates

At the close of the prior year, an individual taxpayer transferred assets into an irrevocable trust, retaining the right to the income from the trust for life. During the year, the assets earned ordinary dividends and interest income. The tax liability on the income earned will be paid

A. Entirely by the trust. B. Entirely by the individual taxpayer. C. By the trust on the interest income only, and by the individual taxpayer for the dividend income. D. By the trust on the dividend income only, and by the individual taxpayer for the interest income.

A descriptive synopsis

A) tells what the report is about in moderately greater detail than the table of contents. B) includes the actual findings of the report. C) presents the main points of the report in the order they appear in the text. D) replaces the table of contents. E) is preferable if your report is organized using the direct approach.