What Is the Difference Between an Administrator and an Executor

question 54

Multiple Choice

What is the difference between an administrator and an executor?

• A) Administrators administer trusts and executors administer wills.
• B) Administrators distribute real property and executors distribute personal property.
• C) Executors are used where the decedent has surviving children under age 18 and administrators are used where the decedent has no surviving children under age 18.
• D) Administrators are appointed by the court and executors are named in the will.
• E) Administrators are used for per capita distributions and executors are used for per stirpes distributions.

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Definitions:

Incremental Manufacturing Cost

The additional cost incurred to produce one additional unit of product, including materials, labor, and overhead costs.

Production Increase

An upward adjustment or rise in the amount of goods and services produced by a company.

Prime Cost

The sum of direct materials and direct labor costs in a manufacturing process, not including overhead expenses.

Incremental Manufacturing Cost

The additional cost incurred to produce an additional unit of product, including direct materials, direct labor, and variable overhead.