Ben receives a life estate in a property, with his nephew Will designated as the remainderman. When Ben dies, what kind of interest does Will receive?

A. Fee Simple Estate
B. Life Estate
C. Remainder Interest
D. Reversionary Interest

Answer: A. Fee Simple Estate

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Comprises 70% of business entities in the United States

a. Proprietorship b. Partnership c. Corporation

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An engagement work program for a comprehensive assurance engagement to evaluate a purchasing function should include:

a) Procedures to accomplish engagement objectives. b) A statement of the engagement objectives for the operation under review with agreement by the engagement client. c) A focus on risks affecting the financial statements as opposed to controls. d) Procedures arranged by relative priority based upon perceived risk.

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