Miriam established a trust by placing substantial funds in a trust account for the benefit of her son, Robert. Miriam appointed her brother, Fred, as trustee for the trust. In the trust document, she did not expressly define Fred's powers as trustee, or his duties. Under these circumstances, Fred ________.
A. must use a reasonable degree of skill, judgment, and care in the exercise of his duties
B. is obligated to turn over the money to Robert at the earliest
C. has the right to commingle his property with the property he holds in trust
D. does not owe any fiduciary duty to the beneficiary
Answer: A
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A) indirect exporting B) licensing C) franchising D) direct exporting E) joint ventures
Your textbook identifies a range of bases of power, legitimacy being one. Which one of the following is NOT central to the concept of power as legitimation?
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a. True b. False
An operating segment is a component of a company
A. that engages in business activities to earn revenues and incur expenses. B. whose operating results are regularly reviewed by the company's chief operating officer for budgeting and evaluation purposes. C. for which financial information is available. D. All of these types of companies would have an operating segment as a component.