Which of the Following Is False Regarding Wills

question 22

Multiple Choice

Which of the following is false regarding wills?

• A)A holographic will must have two witnesses.
• B)A testator is one who makes a will.
• C)If an individual dies without a will, the state will determine inheritance and the disposition of minor children.
• D)If one has no heirs and no legal will, the decedent's property escheats to the state.

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Definitions:

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the expected (or standard) variable overhead based on activity levels.

Favorable

A term used in accounting and finance to describe outcomes or variances that are better than anticipated, indicating a positive performance against the budget or forecast.

Unfavorable

A term used to describe a variance or outcome that results in a worse financial position than expected or budgeted.

Labor Rate Variance

The difference between the actual labor costs incurred and the expected (or standard) labor costs, often due to paying a higher or lower wage rate than planned.