The Legal Name for the Process of an Heir's Becoming

question 1

Multiple Choice

The legal name for the process of an heir's becoming beneficially entitled to the property of one who dies without a will is

• A) intestate succession.
• B) testamentary disposition.
• C) ambulatory succession.
• D) All of the answers are correct.

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Definitions:

Restrictive Financing Policy

A financial strategy that involves maintaining lower levels of current assets or using more short-term financing to fund those assets, aiming to reduce costs but increase risk.

Cumulative Cash Surplus

The total amount of cash that a business has generated over a certain period, after accounting for all cash inflows and outflows.

Financial Foreclosure

The process by which a lender takes possession of a property used as collateral for a loan that is in default.