Which of the following is a charitable lead trust? a. The income of the trust fund goes

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Which of the following is a charitable lead trust?

  a. The income of the trust fund goes to an individual until death, at which time the principal is conveyed to a charitable organization.
  b. Charitable gifts are placed into the trust until a certain dollar amount is achieved and is then transferred to a specified charitable organization.
  c. The income of a trust fund goes to a charitable organization for a specified time with the principal then being conveyed to a different beneficiary.
  d. A charity conveys money to a trust that generates income for the charity’s use in its various projects.

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Advanced Accounting

ISBN: 978-1259444951

13th edition

Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupni

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