An Express Trust Is a Trust

question 2

Multiple Choice

An express trust is a trust:

• A) created only by an oral statement.
• B) established by voluntary action.
• C) established by law through the courts when the parties' conduct seems to warrant the creation of a trust.
• D) All of these.

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Definitions:

Single Plantwide Overhead Rate

A costing method where a single overhead rate is used to allocate all manufacturing overhead costs to products, regardless of the department in which the costs were incurred.

Direct Labor Hours

The accumulated hours that employees dedicated to the manufacturing process or service provision have worked.

Fabrication Department

A specialized sector within manufacturing focusing on the construction and assembly of product parts or components.

Assembly Department

A section of a manufacturing facility where components are put together to form a finished product.