A Clause in a Will That Disposes of All Items

question 20

Multiple Choice

A clause in a will that disposes of all items not specifically given away (the "leftovers") is known as the

• A) residuary clause.
• B) attestation clause.
• C) exordium clause.
• D) testimonium clause.

---

Definitions:

Manufactured

Refers to the state of having been made from raw materials through a process of production in a factory.

Finished Goods Inventory

The stock of completed products ready for sale, held at the end of an accounting period.

Net Income

The total earnings of a company after subtracting all expenses from revenues, including taxes and interest.

Administrative Expenses

Costs associated with the general operation of a business, such as office salaries and utilities.