Which of the Following Is a True Statement

question 70

Multiple Choice

Which of the following is a True statement?

• A) A fiduciary entity is a legal entity that takes possession of property for the benefit of a person.
• B) An estate is a fiduciary that comes into existence upon a person's death to transfer the decedent's real and personal property.
• C) A trust is also a fiduciary whose purpose is to hold and administer the corpus for other persons (beneficiaries).
• D) An estate exists only temporarily, but a trust may have a prolonged or even indefinite existence.
• E) All of the choices are True.

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Definitions:

Short-run Supply

The amount of output that producers are willing and able to sell at different prices over a short period of time, often assuming some inputs are fixed.

State License Fee

A fee required by certain state governments for the granting of a license to operate a particular business or profession within that state.

Short Run

A time period in which at least one input, such as capital equipment, is fixed, limiting the adjustments a firm can make to production levels.

Maximize Profits

Maximizing profits is the goal of most firms, achieved by increasing revenue while minimizing costs, leading to the highest possible financial return from their operations.