Which of the Following Is Not a Requirement for the Formation

question 64

Multiple Choice

Which of the following is not a requirement for the formation of a valid trust?

• A)Conveyance of specific property
• B)Proper purpose
• C)Legal capacity
• D)Appointment of trustee

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Definitions:

Long-term Liabilities

Obligations or debts due beyond one year or the normal operating cycle, including bonds payable, long-term leases, and pension liabilities.

Vertical Analysis

A method in financial statement analysis where each entry for each of the three major categories of accounts (or financial statements) is represented as a proportion of the total account.

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, showing revenues, expenses, and profits or losses.

Horizontal Analysis

A financial analysis technique that compares line items in financial statements over a period of time to identify trends and growth patterns.