A Person Who,although Not the Legal Owner,may Compel the Trustee

question 37

Multiple Choice

A person who,although not the legal owner,may compel the trustee to provide benefits of a trust to him is called the

• A)trust benefactor.
• B)secondary beneficiary.
• C)beneficial owner.
• D)beneficiary.
• E)trustee.

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Definitions:

Inventory

The sum of all products and materials possessed by a firm, intended for either reselling or manufacturing.

Statement of Cash Flows

A financial report detailing the inflow and outflow of cash and cash equivalents for a business.

Direct Method

A cash flow statement preparation technique that lists all major operating cash receipts and payments for the period.

Bonds

Financial securities that represent a loan made by an investor to a borrower, typically corporate or governmental.