You know that the advantages of having a will likely outweigh the disadvantages associated with probate. Which is not a disadvantage of probate?

A) Legal fees and court costs must be paid.
B) The will is validated.
C) There are typically executor fees for settling the estate (unless the executor is a family member who chooses only to be reimbursed for expenses).
D) Costs of probate can equal 1 to 8 percent of the value of the estate.
E) The process may be slow, particularly if someone challenges the will.

Answer: B

Business

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During which phase of the corporate life cycle are cash from operations and net income approximately equal?

A. Introductory B. Growth C. Maturity D. Decline

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A furniture retailer has yearly sales of $1,800,000 . Beginning-of-year inventory (at cost) equals $400,000; ending inventory (at cost) is $270,000 . The yearly purchases are $700,000 and transportation charges are $5,700

The retailer's gross profit equals _____. a. $735,700 b. $964,300 c. $1,000,000 d. $1,005,700

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