The Duties of a Trustee Are

question 32

Multiple Choice

The duties of a trustee are:

• A) to act with prudence and care in the administration of the trust.
• B) to exercise a high degree of loyalty toward the beneficiary.
• C) to carry out the purposes of the trust.
• D) All of these.

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Definitions:

Principles of Management

Fundamental guidelines for managing organizations, including planning, organizing, leading, and controlling.

Not-for-profit Organizations

Organizations that operate for purposes other than making a profit, focusing instead on charity, education, social issues, or community service.

Profit-seeking Companies

Firms whose primary goal is to generate earnings above their costs.

Delegation

Managerial process of assigning work to employees.