Of those assets distributed at death, which one of the following must pass through probate?
A)
Assets distributed through the will
B)
Assets distributed through a living trust
C)
Assets distributed through a contractual transfer
D)
All of the assets described above must pass through probate.
A
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Several different values can be considered when determining how much insurance should be carried on a dwelling (the Coverage A limit of the Homeowners 3 policy). The appropriate value that should be used is:
A) the home's market value. B) the home's actual cash value. C) the home's appraised value for property tax purposes. D) the home's replacement cost.
For each report listed below, identify whether the major purpose of the report is for (1) routine internal reporting, (2) nonroutine internal reporting, or for (3) external reporting to investors and other outside parties
Item: a. study detailing sale information of the top-ten selling products b. weekly report of total sales generated by each store in the metropolitan area c. annual Report sent to shareholders d. monthly report comparing budgeted sales by store to actual sales