Examlex
A(n) occurs when a testator makes bequests of money in the will and the estate does not have enough money to pay all the bequests so they are paid proportionally.
Net Asset Value
The total value of an entity's assets minus the total value of its liabilities, often used in evaluating investment funds.
Year-End Assets
The total value of all assets held by an individual, company, or institution at the conclusion of a fiscal year.
Liabilities
Financial obligations or debts a company owes to others, which must be settled over time through the transfer of economic benefits.
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