A List Made by an Executor or Administrator of an Estate

question 25

Multiple Choice

A list made by an executor or administrator of an estate that includes all estate assets that he or she has collected as well as all receipts and disbursements

• A) special administrator
• B) administrator cum testamento annexo
• C) administrator de bonis non
• D) public administrator
• E) ancillary administrator
• F) Letters Testamentary
• G) Letters of Administration
• H) surety bond
• I) Decree of Distribution
• J) final account
• K) disclaimer

---

Definitions:

Current Ratio

A liquidity ratio that measures a company's ability to pay short-term obligations or those due within one year, calculated by dividing current assets by current liabilities.

Permanent Accounts

Balance sheet accounts that carry their ending balances over into the next accounting period, such as assets, liabilities, and equity accounts.

Accumulated Depreciation-Equipment

The total depreciation that has been recorded against a company's equipment since it was put into service.

Depreciation Expense-Equipment

The allocation of an equipment's cost over its expected useful life to reflect its decrease in value over time.