Which of the following is a similarity between a living trust and an inter vivos trust?
A) both of them are subject to probate
B) both of them require the beneficiaries to be present during the time of creation of the trust
C) both of them are created while the settlor is still alive
D) both of them are free from changes resulting from operations of law like annulment
C
You might also like to view...
A career that is upwardly mobile, with a number of jobs that are fundamentally different yet still build on one another is known as a(n) ______ career.
A. steady-state B. portfolio C. spiral D. inclining E. linear
Theresa has just started working as a teller for First Bank. A man comes into the bank with a $100 check that is eight months old. She goes to the manager to ask whether she should pay it. If you were the manager, what would you advise her? Explain
Lanjan Corporation uses the weighted-average method in its process costing system. Operating data for the first processing department for the month of June appear below: Units Percent Complete withRespect to ConversionBeginning work in process inventory 14,000 50%Started into production during June 76,000 Ending work in process inventory 20,000 10% According to the company's records, the conversion cost in beginning work in process inventory was $92,218 at the beginning of June. Additional conversion costs of $571,618 were incurred in the department during the month. What was the cost per equivalent unit for conversion costs for the month? (Round off to three decimal places.)
A. $5.954 B. $9.220 C. $9.410 D. $7.521
What are entity-level controls?
The PCAOB's AS 2201, An Audit of Internal Control Over Financial Reporting That is Integrated with an Audit of Financial Statements, describes the auditor's responsibility to use a "top-down approach" and describes the auditor's responsibility for testing "entity level controls." Refer to PCAOB AS 2201 to answer the following questions: