A trust, the purpose of which is to stop creditors of the beneficiaries from reaching the income or principal while it is in the hands of the trustee, is called a

Owner Dean wanted to sell his duplex in order to purchase a fourplex. He was concerned that he might not net enough from the sale of the duplex to complete the purchase of his next property. Broker Ward offered a net listing. How does and that listing work?

a. The broker would receive only a predetermined discounted commission to help the seller. b. The broker would offer his services as a gratuitous agent. c. The broker would receive a commission only after the seller netted the predetermined amount stipulated in the agreement. d. The broker would be paid up a certain minimum amount and does not risk being paid no commission.

Voellers Upholstery Co. produces inexpensive leather chairs. The average selling price for one of the chairs is

$400. The variable cost per chair is $250. Voellers has average fixed costs per year of $450,000. a. What is the break-even point in units? b. What is the break-even point in dollar sales? c. What would be the operating profit or loss associated with the production and sale of (1 ) 3,000 chairs, (2 ) 4,000 chairs?