Title to a spouse's martial property can be transferred upon death by use of
a. an oral will
b. a tenancy in common
c. a living trust
d. a letter of intent
Answer: c. a living trust
Business
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The formula to compute the current ratio is
A) (cash + short-term investments + net current liabilities)/current liabilities. B) (current liabilities +short-term investments + net current receivables) divided by current assets. C) current liabilities/current assets. D) current assets/current liabilities.
Business
Purchased raw materials on account. Debit ________ Credit ________
Fill in the blank with the appropriate word.
Business