Who Are the Principal Parties to a Trust? Briefly Define

question 15

Essay

Who are the principal parties to a trust? Briefly define each.

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Definitions:

Cash Balance

The amount of cash held by a business at any point in time, reflecting its immediate liquidity position.

Ratio

A ratio is a quantitative relationship between two numbers, showing how many times the first number contains the second or how the two numbers compare.

Bank Reconciliation

The method of aligning the figures in a company's bookkeeping records for a cash account with the equivalent data on a bank statement.

NSF Check

Non-Sufficient Funds Check, a bank check that cannot be honored because the account on which it is drawn does not have enough funds.