A Valid Will Must Be Witnessed

question 25

Multiple Choice

A valid will must be witnessed. Which of the following statements about witnesses is correct?

• A) Most states require only one witness to a will.
• B) The witnesses must see the testator write the will.
• C) The witnesses must sign the will.
• D) Under the law in all states, witnesses lose any bequests to them in a will they witness.

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Definitions:

Internal Control Structure

A set of processes and procedures implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Recording Transactions

The systematic process of documenting financial transactions in the accounting records of a business.

Accounting System

The methods and procedures used by a business to collect, classify, summarize, and report financial data for use by management and external users.

Voucher

A document representing an internal intent to make a payment to an external entity, detailing the specifics of the transaction.