Question
All of the following are true about UGMA and UTMA accounts EXCEPT: A. Both accounts allow the custodian to collect fees for managing the account.
All of the following are true about UGMA and UTMA accounts EXCEPT:
| A. | Both accounts allow the custodian to collect fees for managing the account. | |
| B. | If endorsements on certificate are required, the custodian must sign the certificates. | |
| C. | The minor's social security number is registered on the new account form. | |
| D. | Gifts to the minor are irrevocable.
|
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Accounting
Authors: John Hoggett, John Medlin, Keryn Chalmers, Claire Beattie
11th Edition
9780730382737, 9780730382737
