When an Accountant Acts as a Trustee of a Split-Interest

question 19

Multiple Choice

When an accountant acts as a trustee of a split-interest trust,which of the following fiduciary duties applies to the accountant?

• A) Only the duty of impartiality
• B) Only the duty of care
• C) Only the duty of loyalty
• D) All of the above

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Definitions:

Information Systems

Systems that manage and process data to support decision-making and operations in an organization.

Big Data

Information collected in massive amounts and at unprecedented speed from both traditional and digital sources that is used in business decision making; complex structured or unstructured sets of information that traditional processing applications are unable to analyze.

Structured

Organized in a predictable, efficient, and systematic manner to facilitate processes, projects, or information management.

Unstructured

Refers to data or information that doesn't have a pre-defined model or organization, making it difficult to process and analyze without specialized tools.