Which One of the Following Statements Is True About Estate

question 105

Multiple Choice

Which one of the following statements is true about estate planning?

• A)Estate planning is only for the rich.
• B)It is always easy to plan for your family's financial security in the event of your death.
• C)Estate planning does not require taking an inventory of everything you own.
• D)Many people give a lot of thought to setting their financial affairs in order.
• E)Many people do little to provide for those who will survive them.

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Definitions:

Total Cost

The overall expenditure incurred by a company in the production of goods or services, including fixed and variable costs.

Total Revenue

The total income generated from the sale of goods or services by a company.

Profitable One

An entity or venture that generates income exceeding its costs and expenses, thereby yielding a surplus or profit.

MC > MR

A condition where the marginal cost of producing an additional unit is greater than the marginal revenue gained from selling it, indicating it’s not profitable to increase production.