Which of the Following Statements Is Not True in Relation

question 5

Multiple Choice

Which of the following statements is not true in relation to volunteers?

• A) It is irrelevant that the beneficiary was a volunteer, if the trust has been completely constituted.
• B) A volunteer may not compel a would-be trustee to sue on his or her behalf to enforce the promise to create a trust.
• C) A volunteer may never enforce an incompletely constituted trust.
• D) A volunteer who is party to a covenant to settle property on trust will get no assistance from equity, but may have rights in common law.

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Definitions:

Bonus Shares

Additional shares given to existing shareholders without any extra cost, based on the number of shares they already own.

Basic Earnings

The net income divided by the weighted average number of common shares outstanding during the period, representing earnings per share.

Diluted Earnings

A measure of a company's profitability that accounts for all potential shares that could be exercised or converted into shares, often related to options or warrants.

Accounting Methods

The rules and procedures that a company follows to prepare its financial statements, including various methods for recognizing revenues, expenses, assets, and liabilities.