Lesson 10 Flashcards

1
Q

Trust

A

A temporary, conditional, or permanent fiduciary relationship in which the legal title to, and control of, property is placed in the hands of a trustee for the benefit of another person

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Ownership Structures

A

Co-ownership, divided ownership, corporation, trust, general partnership, limited partnership

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Ownership Criteria

A

Taxation status, investors’ liability, divisibility and liquidity, management

How well did you know this?
1
Not at all
2
3
4
5
Perfectly