The Person Specified in a Will to Receive a Part

question 41

Multiple Choice

The person specified in a will to receive a part of the estate is called a(n)

• A) beneficiary.
• B) grantor.
• C) trustee.
• D) administrator.

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Definitions:

Social Responsibility Pyramid

A model describing the layers of responsibility that companies have, ranging from economic, legal, ethical, to philanthropic duties.

Obligation

A duty or commitment that one is bound to, legally or morally, which often involves completing certain actions or adhering to agreements.

Social Responsibility

The idea that businesses should balance profit-making activities with activities that benefit society; it involves developing businesses with a positive relationship to the society in which they operate.

Positive Impact

The beneficial effect that one's actions or policies have on individuals, communities, environments, or markets.