Donna transfers $200,000 of property to an irrevocable trust with a bank as trustee. Donna names Toby (age 60) to receive all of the trust income for the rest of his life. At Toby's death, the property is to pass to Al or Al's estate. What kind of interest do Toby and Al possess?
What will be an ideal response?
Toby has a present interest. Al has a future interest.
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Snake oil plans are plans:
a. that make their money by getting new people to buy property in exotic locations. b. that promise enormous earnings or claim to sell miracle products. c. that motivate the purchase of unusually overpriced goods or services. d. that make people believe that they will make money simply because they are one of the earliest investors.
When units are purchased at different costs over time, determining the cost per unit assigned to inventory items is simple.
Answer the following statement true (T) or false (F)
Vision is an important element of entrepreneurial leadership because
A. a vision statement is part of the documentation used to obtain venture financing. B. organizations cannot function without a detailed and operational vision. C. the entrepreneur has to envision realities that do not yet exist. D. banking institutions require it.
Who is Richard Grimshaw?
a. Ford engineer who did the cost-benefit analysis on the Pinto b. A teen who was severely burned when the Pinto he was riding in exploded into flames following a rear-end collision c. CEO of Ford Motor d. Secretary of the Department of Transportation