INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

question 48

Multiple Choice

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.
-An appropriate trust to set up with a disabled child being the beneficiary would be the [Special Needs | Minor's Section 2503(c) ] trust.

• A)for the first item
• B)for the second item
• C)if neither item will correctly complete the statement.

---

Definitions:

Interest Calculations

The process of determining the interest payment on a loan or financial product based on the principal, rate, and period.

Journalize

The act of recording transactions in a company's journal, which includes details like the date, accounts affected, and amounts involved.

Creditor

An entity (person or institution) to which money is owed.

Discounted Note

A financial instrument that is sold for less than its face value and matures at face value, resulting in a gain for the holder upon maturity.