A Person or Institution That Holds or Generally Manages Property

question 28

Multiple Choice

A person or institution that holds or generally manages property for the benefit of someone else under a trust agreement is called a(n) :

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

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Definitions:

Ambiguous Situations

Circumstances that lack clarity or precision, often leading to uncertainty or differing interpretations among individuals.

Organizational Interests

The goals, values, and objectives that an organization seeks to achieve and maintain.

Questionable Action

Behavior or activity that raises concerns regarding its ethical or moral acceptability.

Good Faith

Conduct characterized by honesty, integrity, and sincerity, especially in fulfilling contracts or negotiations.