As Part of Their Fiduciary Duty, Trustees

question 8

Multiple Choice

As part of their fiduciary duty, trustees

• A) cannot profit personally from the trust property.
• B) cannot commingle trust property with their own property.
• C) must treat their beneficiaries fairly.
• D) All of the answers are correct.

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Definitions:

Firm's Flexibility

The ability of a business to adapt quickly and efficiently to changes in the market environment, customer demands, or production needs.

Responsiveness

The ability to quickly and effectively respond to customer needs, complaints, and market changes, contributing to customer satisfaction and competitive advantage.

Customer Satisfaction

Refers to the measure of how products or services supplied by a company meet or surpass a customer's expectation.

Orientation

The initial process of familiarizing a new employee with the company, its policies, and their role, or the underlying approach or attitude of an individual or organization.