Which Duty Prohibits a Trustee from Personally Profiting from His

question 12

Multiple Choice

Which duty prohibits a trustee from personally profiting from his or her position as trustee other than the compensation allowed by contract or law) ?

• A)Duty of loyalty
• B)Duty to take possession of and preserve trust property
• C)Duty to prevent the investment of the trust property
• D)Duty to make payments of income and principal to the named beneficiaries

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Definitions:

Direct Labor Costs

The wages and benefits paid to employees who are directly involved in the production of goods or services.

Variable Overhead Efficiency Variance

The difference between the actual variable overhead and the standard cost of variable overhead allocated for the actual production.

Supplies Cost

The cost associated with materials and items used in the operation or maintenance of a business or facility.

Machine-Hours

A measure of the amount of time a machine is operated, used for allocating machine operation costs to products or units produced.