"Wills Are Valid If They Are in the Handwriting of the Testator

question 30

Multiple Choice

"Wills are valid if they are in the handwriting of the testator and signed by the testator." Here,the term and means that:

• A)Either condition may be present for a will to be valid
• B)Both conditions must be met for a will to be valid
• C)The use of and makes both requirements mandatory for a will to be valid
• D)Only one of the conditions must be met for a will to be valid
• E)Answers a and d above
• F)Answers b and c above

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Definitions:

Internal Rate Of Return

A financial metric used to evaluate the profitability of potential investments, representing the interest rate at which the net present value of all the cash flows from a project or investment equals zero.

Labor Savings

A reduction in the amount of labor required or a decrease in labor costs, often as a result of improved efficiency or automation.

Useful Life

The estimated period over which an asset is expected to be used before it is fully depreciated.

Profitability Index

A ratio that compares the present value of future cash flows of a project to its initial investment, used to assess the desirability of projects.