Which of the Following Statements Is Not True of an Enduring

question 5

Multiple Choice

Which of the following statements is not true of an enduring power of attorney?

• A)It is sometimes called a living will.
• B)It generally takes effect when and if the principal loses intellectual capacity.
• C)It generally lapses when and if the principal loses intellectual capacity.
• D)Like a general power of attorney it is a written grant of express actual authority.

---

Definitions:

Partnerships

A business structure in which two or more individuals manage and operate a business in accordance with the terms and objectives set out in a Partnership Agreement.

Competent Manager

An individual who possesses the necessary skills, knowledge, and experience to effectively direct and control business operations.

Previous Business Success

The accomplishments and positive outcomes achieved by a business in its past operations, often used to gauge potential for future success.

Capital

Financial assets or resources that individuals or companies use to fund their operations and invest in their businesses.