Requirements for a Valid Will Do Not Include

question 37

Multiple Choice

Requirements for a valid will do not include

• A) The testator must be of sound mind.
• B) The testator must not be unduly influenced.
• C) The will must be properly executed.
• D) There must be no fraud in the execution of the will.
• E) The will must be drawn up by an attorney.

Distinguish between the functions performed by different hemispheres of the brain.

Understand the importance of market share and market size in valuing companies.

Understand the difference between an idea and an opportunity in the context of entrepreneurship.

Calculate the increase in sales needed to cover an increase in fixed costs, maintaining current gross margin.

---

Definitions:

Product Innovations

The introduction of a good or service that is new or significantly improved with respect to its characteristics or intended uses.

Process Innovations

Refers to the implementation of a new or significantly improved production or delivery method, contributing to increased efficiency and effectiveness.

Managerial Innovations

The implementation of new administrative processes, strategies, or products designed to improve the efficiency and productivity of management.

Extrinsic Rewards

Benefits given by employers to motivate employees that are external to the job itself, such as pay raises, bonuses, and perks.