A Bank Account Set Up with the Words "In Trust

question 21

Multiple Choice

A bank account set up with the words "in trust for" or "trustee for" is:

• A)A gift.
• B)A trust.
• C)Neither a gift nor a trust.
• D)Both a gift and a trust.
• E)None of the above.

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Definitions:

Stock Traded

Shares of ownership in a company that are bought and sold on a stock exchange.

Stockholders' Equity

Stockholders' equity represents the ownership interest of shareholders in a corporation, calculated as total assets minus total liabilities.

Shares

Shares represent units of ownership interest in a corporation or financial asset, providing an entitlement to a portion of the company's profits and assets.