For Each of the Following Items, Insert the Best Term

question 82

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.
-The person who transfers assets to a trust.

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

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Definitions:

Maker

In financial terms, the party that issues or creates an instrument, such as a check or promissory note, effectively promising to pay the amount specified.

Credit Sales

refers to sales in which the buyer is permitted to pay at a later date, commonly used in business to business transactions.

Specific Customers

Refers to the particular group or segment of customers targeted by a business for its products or services.

Annual Interest Rate

The percentage increase in the amount of money owed as interest on a loan or investment, calculated on an annual basis.