The governing instrument for the Lopez Trust contains no definitions of income and principal. The Trust is located in a state that has adopted the Uniform Act. In the current year, the trust reports the following receipts and disbursements: What is the trust's net accounting income?

Question

The governing instrument for the Lopez Trust contains no definitions of income and principal. The Trust is located in a state that has adopted the Uniform Act. In the current year, the trust reports the following receipts and disbursements:  What is the trust's net accounting income?

Quizplus · Accepted Answer

The Answer of The governing instrument for the Lopez Trust contains no definitions of income and principal. The Trust is located in a state that has adopted the Uniform Act. In the current year, the trust reports the following receipts and disbursements:  What is the trust's net accounting income?

The Governing Instrument for the Lopez Trust Contains No Definitions