A trust that is created by the terms of the will is called a(n) ________ trust

Ron, the insured, dies during the grace period for his $100,000 life insurance policy. Considering that the premium on the policy has not been paid, what happens?

A) The premium due, plus a 10% penalty, is charged against the policy. B) The amount of the premium is deducted from the policy proceeds paid to the beneficiary. C) The beneficiary must pay the premium after the death claim is paid. D) The premium is canceled because the insured died during the grace period."

You have been assigned to audit the maintenance department of an organization. Which of the following is likely to produce the least reliable audit evidence?

a. Notes on discussions with mechanics in the maintenance operation b. A schedule comparing actual maintenance expenses with budgeted expenses and those of the prior period and disclosing important differences c. A narrative covering review of user reports on maintenance service d. An analysis of changes in certain maintenance department ratios