Each Trust Has Which of the Following

question 59

Multiple Choice

Each trust has which of the following?

• A) Executor.
• B) Corpus.
• C) Testator.
• D) All of these.

---

Definitions:

Accounting Equation

The accounting equation is a foundational principle of accounting, stating that assets equal liabilities plus owner's equity, serving as the basis for double-entry bookkeeping.

Rent for Equipment

The cost incurred for borrowing equipment necessary for the operations of a business or project.

Stockholders' Equity

The residual interest in the assets of a corporation after deducting its liabilities, representing the ownership equity of the shareholders.

Assets

Economic resources owned or controlled by a business or individual that are expected to provide future benefits.