In Most Firms,the Controller Is the Chief Accounting Manager

question 52

True/False

In most firms,the controller is the chief accounting manager.

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Definitions:

Estate Administration

The process in which a decedent’s personal representative settles the affairs of the decedent’s estate, collects assets, pays debts and taxes, and distributes the remaining assets to heirs. The process is usually overseen by a probate court.

Probate Court

A specialized court that deals with matters pertaining to wills, estates, conservatorships, and guardianships.

Decedent's Estate

All the assets and liabilities left behind by a person who has passed away.

Administrator

An individual appointed by a court to manage and settle the estate of a deceased person who has left no will.