A Trust Created in a Will Is

question 39

Multiple Choice

A trust created in a will is

• A)an inter vivos trust.
• B)a constructive trust.
• C)a testamentary trust.
• D)a probate trust.

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Definitions:

Dividends

A portion of a company's earnings distributed to shareholders as a reward for their investment.

Par Common Stock

The face value of common shares issued by a company, which is noted on the share certificate.

No-Par Common Stock

Shares of common stock issued without a par value, which means they are not assigned a nominal face value.

Treasury Stock

Shares of a company's own stock that it has reacquired and held in the company's treasury.