An Express Trust Is Created or Declared in Explicit Terms

question 65

True/False

An express trust is created or declared in explicit terms.

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Definitions:

Acquisition

The process by which a company purchases most or all of another firm's shares to take control of that company.

Fair Value

The estimated market price of an asset or liability, based on current conditions between knowledgeable, willing parties.

Credit Balance

Occurs when the total amounts of credits in an account exceed the total amounts of debits, often indicating an amount owed to the account holder.

Common Stock

A type of equity security that represents ownership in a corporation, with holders possibly entitled to vote on corporate matters and receive dividends.