Which of the Following Refers to a Trust That Is

question 62

Multiple Choice

Which of the following refers to a trust that is created through a will?

• A) Testamentary trust.
• B) Irrevocable living trust.
• C) Revocable living trust.
• D) Transfer on death.

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Definitions:

Accounting Information

Data related to the financial transactions and status of an individual or entity, often used for decision making.

Human Resource Managers

Professionals responsible for overseeing an organization's human resources department, focusing on policies, processes, and hiring to sustain a productive workforce.

Accounting Equation

The fundamental equation of double-entry bookkeeping: Assets = Liabilities + Shareholder's Equity, used to ensure that a company's financial statements are balanced.

Stockholder

An individual or entity that owns one or more shares of stock in a corporation, making them partial owners of the company.