Overseas Shipping Corporation and Port Storage Company transfer their assets to Quality Operations, Inc., which manages the assets and distributes the profits to the beneficiaries. This form of business organization is

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09-12-2021
Business

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Overseas Shipping Corporation and Port Storage Company transfer their assets to Quality Operations, Inc., which manages the assets and distributes the profits to the beneficiaries. This form of business organization is

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topeadeniran2 topeadeniran2 · Answer 1 · 2021-12-14T12:42:37+01:00

Based on the information given, it can be illustrated that the form of business organization that's depicted is a business trust.

A business trust is also known as common law trusts. They are legal instruments that provide a trustee the authority and power to be able to manage the interest of a beneficiary in a business.

Since Overseas Shipping Corporation and Port Storage Company transfer their assets to Quality Operations, Inc., which manages the assets and distributes the profits to the beneficiaries. This is known as a business trust.

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