A Trust

question 66

Multiple Choice

A trust:

• A) is a fiduciary relationship in which one person holds both legal and equitable title to property which is the subject matter of the trust.
• B) may take effect only during the lifetime of the person creating the trust.
• C) may be created by such words as "I leave [certain property] to Swigert in full confidence and hope that Swigert will care for Adamson."
• D) may not be created "to benefit and maintain Southside Park," since this purpose would be too vague to be enforceable.

Comprehend principles related to leasing, renting, and homeownership, including understanding lease agreements.

Grasp the financial parameters involved in real estate investment, including equity, mortgage mechanics, and interest calculations.

Understand the importance and function of insurance and tax payments in homeownership.

Apply mathematical skills to real-world scenarios about property management, including area calculations and cost estimations.

---

Definitions:

Average Variable Cost

The total variable costs (costs that change with the level of output) divided by the quantity of output produced.

Losing Money

The process where expenses exceed revenues, resulting in financial loss for a business or individual.

Shutdown

The process of ceasing operations, either temporarily or permanently, often as a result of economic difficulties or strategic business decisions.

Long-run Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity supplied over a long period, when all inputs can be varied.