A firm that places its assets in the custody of a board of trustees is called a:
A) trust.
B) combination.
C) cartel.
D) all of these.

Question

Quizplus · Accepted Answer

A trust is a legal arrangement where a company places its assets under the control of a board of trustees, who manage those assets for the benefit of the company and its shareholders. A combination refers to a merger or acquisition between companies, and a cartel is an illegal agreement between companies to control prices or limit competition. Therefore, the only appropriate answer is A) trust.

A Firm That Places Its Assets in the Custody of a Board