Which of the Following Is a True Statement

question 60

Multiple Choice

Which of the following is a true statement?

• A) A fiduciary entity is a legal entity that takes possession of property for the benefit of a person.
• B) An estate is a fiduciary that comes into existence upon a person's death to transfer the decedent's real and personal property.
• C) A trust is also a fiduciary whose purpose is to hold and administer the corpus for other persons (beneficiaries).
• D) An estate exists only temporarily, but a trust may have a prolonged or even indefinite existence.
• E) All of the choices are true.

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Definitions:

Specification Limit

Predetermined bounds or values within which a product, process, or service must operate to be considered acceptable according to its quality standards.

Process Characteristic

A feature or attribute that can be measured or quantified to assess the performance of a process.

Normal Distribution

A type of continuous probability distribution for a real-valued random variable, symmetrical and described by its mean and standard deviation.

Capability Index

A statistical measure that quantifies the ability of a process to produce output within specified limits.