A Fixed Entitlement Trust Occurs When

question 37

Multiple Choice

A fixed entitlement trust occurs when:

• A)each beneficiary is entitled to a specific equal share.
• B)a court presumes from the circumstances that a trust was intended.
• C)the trustees have the choice about how to distribute the trust income.
• D)a court rules that that it is equitable for property in trust to be returned the party who created the trust.

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Definitions:

Average Cycle Time

The average duration it takes to complete a process from start to finish, often used in manufacturing and project management.

Total Processing Time

The complete amount of time required to finish a task or process from start to end.

Value Of Goods

The monetary worth assigned to products, determined by factors such as market demand, production costs, and competitive pricing.

Just-In-Time System

The Just-In-Time System is an inventory management philosophy aimed at decreasing waste and increasing efficiency by receiving goods only as they are needed in the production process, thereby reducing inventory costs.