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Categorization Of Assessable Income And Income Tax Calculations

3) One of the trustee of ABC trust made a distribution of $20,000 to Bon Jane. Bon Jane is mentally unstable and is entitled to distribution. Select one of the statements which accurately reflect the beneficiary status: Bon Jane is entitled to share the net income of the trust Bon Jane is entitled to share the net income of the trust taking an exception under legal disability Bon Jane is not entitled to any share Bon Jane cannot have any distribution from the trust.


Subject Name: Accounting

Level: Undergraduate


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