Final answer:
A trust account is used to hold money by one person for the benefit and purpose of another, with restrictions on its use.
Step-by-step explanation:
A trust account is an account in which money is deposited by one person for the purpose of another. The money is devoted to a particular purpose and cannot be diverted for other purposes. The correct answer is B. Trust; Purpose; cannot.
Trust accounts are a financial arrangement where funds are held by a third party (the trustee) for the benefit of another party (the beneficiary), which are to be used in a manner specified by the trust agreement. This is different from checking accounts, which are demand deposits that a bank must return to the account holder on demand, allowing for immediate access and use for buying things, but without such restrictions on their use.