What Are the Three Ways That a Trust May Be

question 10

Short Answer

What are the three ways that a trust may be constituted or a gift perfected in an unconventional manner?

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Definitions:

Direct Labor-Hours

The number of labor hours spent specifically on the manufacturing of products.

Direct Labor Rate

The cost per hour for labor directly involved in the manufacturing process of a product.

Master Budget

A comprehensive financial plan made up of various individual budgets that outline a company's sales, production, and financial goals.

Raw Materials

Basic materials that are used in the manufacturing process to create finished goods.