Alimony That Is Ordered by the Court to Be Paid

question 48

Multiple Choice

Alimony that is ordered by the court to be paid by one divorcing spouse to the other divorcing spouse for a limited period of time is known as ________.

• A) rehabilitation alimony
• B) lifetime alimony
• C) life estate
• D) intestacy allowance

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Definitions:

Note Payable

A written promise to pay a specific amount of money, usually with interest, by a certain date.

Accounts Receivable

The money owed to a company by its customers for goods or services that have been delivered or used but not yet paid for.

Current Assets

Assets that are expected to be converted into cash, sold, or consumed within one year or within a business’s normal operating cycle if longer than a year.

Supplies

Items used in the operation of a business that are consumed or not resalable, such as office supplies or manufacturing inputs.