Which of the Following Activities Would Be Recorded by a Trust

question 34

Multiple Choice

Which of the following activities would be recorded by a trust fund?

• A) Deposits held for customers of a city-owned electric utility.
• B) Assets passed-through the state government to the local government.
• C) Assets held for special assessment bondholders for which the city has no liability.
• D) Assets that are used to assist in the preservation of a private residence.

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Definitions:

Business Ownership

The state or fact of owning a business, which entails bearing the risk of the venture and enjoying the profits derived from it.

Triggering Event

An occurrence or a situation that activates a response or process, often used in the context of contracts, where certain conditions activate specific clauses.

Personal Characteristics

Individual attributes or traits, including personality, values, attitudes, and abilities, that define a person.

Business Evolves

The process by which a business changes and develops over time to adapt to market conditions and customer needs.