A Remainderman Is

question 52

Multiple Choice

A remainderman is

• A) a stockbroker who remained working on Wall Street after the 1987 crash.
• B) an employee of a trustee.
• C) one who receives interest and dividend income from a trust during their lifetime.
• D) one who receives the principal of a trust when it is dissolved.

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Definitions:

Fixed Expenses

Costs that do not vary with the level of production or sales, such as rent, insurance, and salaries, providing predictability in budgeting.

Break-even

The point at which total costs equal total revenues, meaning there is no profit or loss.

Variable Cost

Variable cost is a cost that changes in proportion to the level of production or business activity, such as raw materials and direct labor.

Monthly Dollar Sales

The total revenue generated from sales, expressed in dollars, for a specific month.