Without a Beneficiary, a Trust Cannot Exist

question 14

True/False

Without a beneficiary, a trust cannot exist.

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Definitions:

Deficit Capital Account

A situation where a company's capital account balance is negative, indicating that liabilities exceed assets.

Proposed Schedule

A planned timeline for activities or events, awaiting approval or finalization.

Capital Account Balances

The amounts recorded in the capital accounts of a company or partnership, reflecting owners' contributions and the accumulated profits or losses.