Question

1. in legal terms, if one person accepts liability for the proper use and disbursement of another persons money, funds, and property, this is known as a/an ______ obligation. a. distribution b. personal c. fiduciary d. overhead

Explanation:

To solve this, we analyze each option:

• Option A: "distribution" refers to the act of distributing, not liability for proper use of another's assets.
• Option B: "personal" obligation is about individual or private duties, not related to managing another's money/funds/property.
• Option C: "fiduciary" obligation is a legal duty where one party (fiduciary) accepts liability to act in the best interest of another regarding their money, funds, or property, matching the description.
• Option D: "overhead" relates to ongoing business expenses, not this legal liability context.

Answer:

C. fiduciary