Which of the following statements are true regarding life income ...

[Mimi]

Which of the following statements are true regarding life income gifts?
 
  A. Require the amount of the payment to the beneficiary to vary based on the earnings of the trust.
  B. Require a fixed-dollar payment to be made annually to a designated recipient.
  C. Assets are recorded at historical cost when donated.
  D. Life income gifts are no longer allowed by governmental colleges and universities.

Question 2

The relationship between the three basic accounting elements: ___________________ _, ___________________ _, and ___________________ _, can be expressed in the form of a simple equation known as the accounting equation.
 Fill in the blank(s) with correct word

[deja]

Answer to Question 1

A

Answer to Question 2

assets, liabilities, owner's equity
assets, owner's equity, liabilities
liabilities, assets, owner's equity
liabilities, owner's equity, assets
owner's equity, assets, liabilities
owner's equity, liabilities, assets