A Distinguishing Characteristic of a Business Trust Is That

question 35

Multiple Choice

A distinguishing characteristic of a business trust is that:

• A)the trust estate is devoted to the conduct of a business.
• B)each beneficiary must have the consent of all the other beneficiaries in order to sell or transfer his interest in the trust.
• C)the trustees and beneficiaries share the functions of management and control.
• D)All of these.

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Definitions:

Creativity

The ability to generate new ideas, solutions, or innovations that are both original and valuable.

Need to Excel

The motivation or drive in individuals to achieve superiority and standout performance in their activities or professions.

Risk Aversion

A behavioral trait where individuals or entities tend to avoid uncertainties and potential losses in decision-making.

Tolerate Failures

The willingness or capacity of an individual or organization to endure and learn from unsuccessful outcomes or errors.