A ________ Is Created When a Person Deposits Money in a Bank

question 68

Multiple Choice

A ________ is created when a person deposits money in a bank account in his or her own name and holds it as a trustee for the benefit of another person.

• A) resulting trust
• B) Totten trust
• C) spendthrift trust
• D) testamentary trust

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Definitions:

Goal Specificity

The clarity and preciseness of a goal, which helps in planning and achieving desired outcomes by making expectations clear and measurable.

Theory X Manager

A management style characterized by the belief that employees inherently dislike work and must be closely supervised and coerced to achieve productivity.

Contract

Legally enforceable agreement between two or more parties regarding a specified act or thing.

Union Members

Individuals who belong to a labor union, an organization that represents workers in negotiations with employers regarding wages, benefits, and working conditions.