A Person Who Assumes the Responsibilities of Providing the Children

question 141

Multiple Choice

A person who assumes the responsibilities of providing the children with personal care and managing the estate for them is called a(n) :

• A) beneficiary.
• B) executor.
• C) trustee.
• D) guardian.
• E) executrix.

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Definitions:

Indirect Method

A way to present the cash flow statement, showing operating cash flows based on differences in non-cash accounts on the balance sheet.

Operating Activities

Activities related to the core business functions of a company, including production, sales, and delivery of its products or services.

Net Income

The final earnings of a business once all costs and taxes are removed from the overall revenue.

Indirect Method

A way of reporting cash flows from operating activities in the statement of cash flows by adjusting net income for changes in balance sheet accounts.