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A(n)occurs When a Testator Makes Bequests of Money in the Will

question 19

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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.


Definitions:

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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