For Each of the Following Items, Insert the Best Term

question 64

Multiple Choice

For each of the following items, insert the best term or phrase. An answer choice may be used more than once, but only one choice is the best for each descriptive phrase.
-A trust whose income can be distributed to beneficiaries and in amounts at the trustee's discretion.

• A)Complex
• B)Decedent
• C)Executor
• D)Grantor
• E)Administrator
• F)Reversionary
• G)Simple
• H)Sprinkling
• I)Trustee

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Definitions:

Make Total Cost

An approach to calculate the comprehensive cost of manufacturing a product, including raw materials, labor, and overheads.

Buy Total Cost

The total expense incurred to purchase an item or service, including the purchase price and any additional fees or expenses.

Variable Expenses

Costs that vary in total in direct proportion to changes in business activity levels or volumes, such as sales commissions or raw material costs.

Contribution Margin

The difference between the sales revenue of a product and its variable costs, providing insight into how much revenue contributes towards fixed costs and profit.