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