Which of the Following People Do Not Need to Be

question 21

Multiple Choice

Which of the following people do not need to be at least consulted before a trustee can make a decision about land subject to successive interest?

• A) The settlor
• B) The person entitled in remainder
• C) The life tenant
• D) Any other trustees

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Definitions:

Residual Income

The income that remains after deducting all required costs of capital from operating income, used as a measure of profitability.

Margin

Margin refers to the difference between the selling price of a good or service and its cost of production, usually expressed as a percentage of the selling price.

Return On Investment

A gauge of an investment's profit, expressed as the return percentage in comparison to the cost of the investment.

Residual Income

Residual income is the profit remaining after deducting all required costs of capital from operating income.