Which of the following are CORRECT statements about the nontax characteristics of a pooled income...
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Accounting
Which of the following are CORRECT statements about the nontax characteristics of a pooled income fund? I. It involves a trust created by the grantor solely for the benefit of that grantor and the charity. II. It must pay a fixed dollar amount to the noncharitable beneficiary annually. III. The principal is distributed to the charitable beneficiary at the end of the noncharitable beneficiary's life. IV. The income that can be paid to the noncharitable beneficiary is limited to 10% of the original principal unless the beneficiary is older than a specified age.
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