Which Person Is Generally NOT Automatically Covered When the Term

question 12

Multiple Choice

Which person is generally NOT automatically covered when the term children is used in a will?

• A)Stepchild
• B)Natural,marital child
• C)Nonmarital child
• D)Adopted child

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Definitions:

Accruals

Accounting method that records revenues and expenses when they are incurred, regardless of when cash transactions occur.

Inventory

The merchandise or goods a company holds for sale to customers in the ordinary course of business.

Debt Management Ratio

A financial ratio that measures the degree to which a firm uses borrowed funds, aiding in assessing its financial leverage and ability to meet debt obligations.

Fixed Charge Coverage

A financial ratio that measures a company's ability to cover its fixed charges, such as interest and leases, with its earnings before interest, taxes, depreciation, and amortization (EBITDA).