The Executor or Administrator Does Not Occupy a Fiduciary Relationship

question 19

True/False

The executor or administrator does not occupy a fiduciary relationship with regard to the estate.

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Definitions:

Furniture

Tangible, movable objects intended to support various human activities such as seating, eating, and sleeping, often considered a fixed asset in business accounting.

Fully Depreciated

The status of an asset after its cost has been completely written off over its useful life.

Accumulated Depreciation

The total amount of a tangible asset's cost that has been allocated as depreciation expense since the asset was put into use.

Equipment

Tangible assets used in the operation of a business to produce goods or provide services, not intended for sale.