Bill Is an Attorney in Ohio

question 142

Multiple Choice

Bill is an attorney in Ohio. Marla hires Bill to create a trust for her children. Bill has not been keeping up with developments in trust law, and so creates an inefficient trust. Under recent Ohio law, he could have created a much more beneficial trust. In this case, Bill:

• A) has violated a duty of loyalty
• B) has violated a duty to account
• C) has violated a duty of obedience
• D) may be out-of-date but has violated no duties
• E) none of the other choices

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Definitions:

Materials Entered

This term refers to the recording or entry of raw materials into the production process or inventory system.

Units Started

The number of items or products that a manufacturing process has begun producing during a specific period.

Ending Work

The value of work that remains incomplete at the end of an accounting period, often referred to in calculating work in process.

Equivalent Units

A concept in process costing that converts partially completed units into a number of fully completed units.