Which of the Following Are NOT Duties of a Trustee

question 84

Multiple Choice

Which of the following are NOT duties of a trustee under Chapter 7?

• A) To use, sell, or lease property of the estate.
• B) To employ attorneys, accountants, appraisers, or auctioneers and assume or reject any executory contract or unexpired lease of the debtor.
• C) To rehabilitate the accounts of the debtor.
• D) To deposit or invest money of the estate

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Definitions:

NCI

An interest in a subsidiary not held by the controlling parent, representing a share of the subsidiary’s equity and profits or losses not owned by the parent company.

Subsidiary

A company that is controlled by another company, usually referred to as the parent company, through ownership of more than 50% of its voting stock.

Non-controlling Interest

Equity interest in a subsidiary held by investors other than the parent company, representing their claim to the subsidiary's earnings and assets.

Entity Method

an approach in accounting where the financial transactions of a parent company and its subsidiaries are kept separate, instead of being consolidated.