Curtis, a Trustee, Fraudulently Purchases Property with Trust Funds and Puts

question 63

Multiple Choice

Curtis, a trustee, fraudulently purchases property with trust funds and puts title in his own name. What type of trust will a court create?

• A) Constructive trust.
• B) Implied trust.
• C) Express trust.
• D) Resulting trust.

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Definitions:

Variable Costs

Charges that adjust in direct proportion to the amount of goods produced or sold.

Fixed Costs

Costs that do not change with the level of output or sales, such as rent, salaries, and loan payments.

Tax Rate

The percentage at which an individual or corporation is taxed, which can vary depending on income levels or profit margins.

Variable Cost

Expenditures that fluctuate based on production or sales volume, for instance, materials and manpower.