MATCHING: -An Express Trust That Can Be Either Private or Charitable

question 10

Multiple Choice

MATCHING:
-An express trust that can be either private or charitable

• A)active trust
• B)inter vivos trust
• C)purchase-money resulting trust
• D)failed trust
• E)excessive endowment trust
• F)spendthrift trust
• G)sprinkling trust
• H)Totten trust
• I)declaration of trust
• J)irrevocable living trust

Describe major functions of an investment committee.

Compare risk preference impact on investment choices.

Explain the concepts of active and passive fund management.

Identify investment considerations for maximizing liquidity.

---

Definitions:

Revenue Expenditures

Expenses incurred during the normal operation of a business that are expected to be consumed within the same accounting period.

Capital Expenditures

Funds used by a company to acquire or upgrade physical assets such as property, industrial buildings, or equipment.

Net Income

The total profit or loss of a company after all revenues, expenses, and taxes have been accounted for.

Owner's Equity

Owner's equity represents the owner's claim to the assets of a business, calculated as the business's total assets minus its total liabilities.