Carey Is Trustee of the Floyd Family Trust

question 50

Multiple Choice

Carey is trustee of the Floyd Family Trust.The trust distributes $20,000 income to George, $10,000 to Linda, and $5,000 to George and Linda's church.The Floyd Family trust is:

• A)A reversionary trust.
• B)An irreversible trust.
• C)A simple trust.
• D)A complex trust.

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Definitions:

Conscious Marketing

Emphasizes ethical considerations and the well-being of stakeholders in the marketing process, aiming for sustainable and socially responsible practices.

Economic Value

The worth of a good or service determined by its utility and scarcity, influencing both cost and price.

Overriding Principles

Fundamental rules or theories that take precedence over others in guiding behavior, decision-making, or policy formulation.

Business Ethics

Refers to a branch of ethical study that examines ethical rules and principles within a commercial context, the various moral or ethical problems that might arise in a business setting, and any special duties or obligations that apply to persons engaged in commerce.