If You Have Five Friends Who Tell You They All

question 11

Multiple Choice

If you have five friends who tell you they all have had a great experience with their purchase of a Chevrolet and you used this evidence to decide to buy a Chevrolet,you would be using

• A)consumer self-report and evaluation.
• B)statistics.
• C)inference.
• D)independent judgment.
• E)None of these are correct.

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Definitions:

Constructive Trust

An equitable remedy imposed by a court to rectify situations where injustice would otherwise occur due to wrongful possession of property.

Irrevocable Living Trust

A legal arrangement where a grantor places assets into a trust, relinquishing control over them, and the assets are managed by a trustee for the benefit of the trust's beneficiaries. Once established, it cannot be amended or dissolved.

Probate

The legal process by which a will is reviewed to determine whether it is valid and authentic.

Trustee

A person or entity given responsibility to manage property or assets on behalf of others, typically within a trust.