Testamentary Capacity Is

question 20

Multiple Choice

Testamentary capacity is:

• A)the ability to execute a will and bequeath one's assets.
• B)the competence to give testimony in court.
• C)the ability to consent to a psychological evaluation.
• D)the competence to execute a power of attorney.

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Definitions:

Going Concern

An accounting principle presuming that a company will continue operating and not go bankrupt or be liquidated in the foreseeable future.

Statement Of Cash Flows

A financial report detailing how modifications in balance sheet accounts and income influence cash and cash equivalents.

Quick Ratio

A liquidity ratio that measures a company's ability to meet its short-term obligations with its most liquid assets excluding inventories.

Operating Cash Flows

The amount of cash generated by a company's normal business operations.