A Fiduciary Is a Legal Entity That Can Only Exist

question 7

True/False

A fiduciary is a legal entity that can only exist for a year.

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Definitions:

Customer Base

The customer base refers to the group of consumers who repeatedly purchase the goods or services of a business.

Bank

A financial institution licensed to receive deposits and make loans, and offer other financial services, such as wealth management and currency exchange.

Float Balance

The amount of money within a financial system that is briefly counted twice due to time gaps in registering a deposit or withdrawal, often seen in the banking system.