A Trust

question 66

Multiple Choice

A trust:

• A) is a fiduciary relationship in which one person holds both legal and equitable title to property which is the subject matter of the trust.
• B) may take effect only during the lifetime of the person creating the trust.
• C) may be created by such words as "I leave [certain property] to Swigert in full confidence and hope that Swigert will care for Adamson."
• D) may not be created "to benefit and maintain Southside Park," since this purpose would be too vague to be enforceable.

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Definitions:

Decision Matrix

A tool used in decision-making to evaluate and prioritize a list of alternatives or options, based on a set of criteria.

Payback Period Matrix

A conceptual tool used in finance to evaluate the time required for an investment to return its initial cost, considering various scenarios or criteria.

Payoff Table

A table used in decision making to show the possible outcomes or payoffs for different decisions under various states of nature.

Payoff Table

A table that summarizes the outcomes of different decisions, representing the payoffs or losses for each possible scenario.