Which of the following statements about a trust is not correct: A trust is a...
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Accounting
Which of the following statements about a trust is not correct:
A trust is a separate legal person from the trustee and trust beneficiaries.
A trust is controlled by a trustee (or appointor if there is one).
The trustee has unlimited personal liability for the trust's debts, obligations and liabilities.
A trust allows business continuity on the death of a beneficiary.
A trust can be used for asset protection.
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