The Executor or Administrator Is Responsible for All the Following

question 9

Multiple Choice

The executor or administrator is responsible for all the following estate duties except

• A)preserving the estate's existence as a separate taxpayer.
• B)collecting the assets.
• C)paying the debts and taxes.
• D)distributing the property.

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Definitions:

Responsibility

involves the duty or obligation to perform or complete a task, with an inherent accountability for the successful completion and outcomes.

Vendors

Businesses or individuals that sell products or services to other businesses or consumers.

Lease Decision

The choice between leasing or purchasing an asset, involving considerations of cost, duration, and financial impact.

Confidentiality

The obligation not to share or disclose information without proper authorization, especially information that is private, sensitive, or proprietary.