A Contract Entered into by a Trustee Must Be Approved

question 49

True/False

A contract entered into by a trustee must be approved by the beneficiaries of the trust.

---

Definitions:

Rose/Fell

Terms used to indicate an increase (rose) or a decrease (fell) in a numerical value or metric.

GDP

GDP measures the aggregate value of all goods and services made within the confines of a nation over a specified period.

Internally Generated Funds

Finance obtained from the business's own operations, not through borrowing or new equity.

Investment

The allocation of resources, such as capital, time, or effort, in expectation of generating future profit or income.