Of the Following Elements,which One Is NOT Required to Create

question 5

Multiple Choice

Of the following elements,which one is NOT required to create an enforceable trust?

• A) Consideration
• B) A settlor
• C) Specific property
• D) A beneficiary

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Definitions:

Competitive Pricing

A pricing strategy where a product's price is set based on the prices of similar products offered by competing businesses in the market.

Industry Averages

Statistical metrics that represent the average performance or output within a particular industry.

Accounts Receivable

Debts that customers owe a business for delivered goods or services awaiting payment.

Average Collection Period (ACP)

A financial metric that measures the average number of days it takes for a company to collect payments from its credit sales.