MATCHING -State Laws That Provide for the Descent and Distribution of of Property

question 31

Multiple Choice

MATCHING
-State laws that provide for the descent and distribution of property to those whom a decedent would probably have chosen if the decedent had made a will

• A)chattel
• B)chose in action
• C)nonprobate property
• D)intestate succession statutes
• E)joint tenants
• F)partition
• G)community property
• H)commingling
• I)fee simple estate
• J)remainder
• K)digital assets

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Definitions:

Operating Expenses

Costs associated with the day-to-day operations of a business, excluding costs directly linked to the production of goods or services.

Gross Profit Rate

A profitability ratio that indicates how well net sales cover administrative and selling expenses.

Rate of Return

The gain or loss on an investment over a specified period, expressed as a percentage of the investment's cost.

Inventory Turnover Ratio

An asset management ratio that indicates how quickly inventory moves off the shelf and therefore how well a company sells its product.