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Under the Blanchard/Peale model, which of the following statements is correct?
Trusts
Legal arrangements where one person, the trustee, holds property for the benefit of another, the beneficiary, according to the terms of the trust document.
Customary Compensation
Refers to the typical or usual payment made for a service or to fulfill a contractual obligation.
Tax Audit
An examination or review by tax authorities to verify the accuracy of taxes filed by an individual or organization.
Expressly State
To explicitly specify or declare something in a clear and unequivocal manner.
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