Advanced Accounting 12th Edition by Joe Ben Hoyle,Thomas Schaefer , Timothy Doupnik

Exercise 14

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.