Joseph Smith Has Assets Worth $1,200,000

question 40

Multiple Choice

Joseph Smith has assets worth $1,200,000.He has written a legal document that specifies that these assets are to be divided equally between his wife and his two sons upon his death.What is this legal document?

• A)Estate
• B)Will
• C)Trust
• D)Probate
• E)Liabilities

---

Definitions:

Value Chain

The specific sequence of activities that creates products and services with value for customers.

Specific Sequence

A particular order or arrangement in which related actions, events, or elements follow each other.

Goods And Services

The physical products (goods) and intangible offerings (services) that fulfill the needs or wants of consumers.

Just-in-time Scheduling

A strategy used in manufacturing and logistics to increase efficiency and decrease waste by receiving goods only as they are needed in the production process, thereby reducing inventory costs.