Solved

When an Accountant Serves as a Trustee of a Blind

Question 3

Multiple Choice

When an accountant serves as a trustee of a blind trust and prepares annual state and federal tax returns for the trust,the accountant:


A) Is entitled to compensation both for serving as a trustee and for preparing the tax returns
B) Is entitled to compensation for serving as the trustee, but is not entitled to separate and independent compensation for preparing the tax returns
C) Is not entitled to compensation for serving as the trustee, but is entitled to compensation for preparing the tax returns because a trustee is not expected as part of her customary duties to have sufficient skill or training to prepare accurate tax returns
D) Is not entitled to compensation whatsoever, and is allowed to delegate the task of preparing tax returns to a competent, paid tax return preparer

Correct Answer:

verifed

Verified

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents