Within the Time Set by State Statute, the Personal Representative

question 10

Multiple Choice

Within the time set by state statute, the personal representative must prepare an inventory that includes all of the following EXCEPT:

• A)A valuation of the assets at fair market value
• B)All real and personal property owned by the decedent at the time of death
• C)Administration expenses
• D)Identify any encumbrances on assets

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Definitions:

Exchange

The act of giving up one thing (money,credit, labor, goods) in return for something else (goods, services, or ideas).