Which of the Following Is Not a Type of Trust

question 51

Multiple Choice

Which of the following is not a type of trust?

• A) Revocable living trust
• B) Living trust
• C) Standard family trust
• D) Income trust

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Definitions:

Cash Equivalents

Short-term, highly liquid investments that are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value.

Highly Liquid Investments

Investments that can be quickly converted into cash without a significant loss in value.

Specific Amount

A precise quantity or financial figure identified within a transaction or financial statement, not generalized or estimated.

Deposit Ticket

This is a document that accompanies a bank deposit, listing the amounts of cash and checks being deposited and their respective details.