When Assets Are Left to a Beneficiary Who Has Died

question 79

Multiple Choice

When assets are left to a beneficiary who has died before the testator,and that beneficiary's share is given to the descendants of that deceased beneficiary,what type of distribution is this?

• A) per stirpes
• B) contingent
• C) per capita
• D) intestate
• E) per abatement

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Definitions:

Cost of Goods Available

The total cost of goods that are available for sale during a certain period, including goods purchased or manufactured.

Periodic System of Inventory

An inventory system that updates inventory balances at the end of a certain period, involving periodic physical counts.

Inventory Volumes

The total amount of goods a company has available for sale or production at any given time, often measured in units or cost value.

Periodic Inventory System

An accounting method that updates inventory balance and cost of goods sold at the end of an accounting period.