John Is Thinking About Preparing a Durable Power of Attorney

question 19

Multiple Choice

John is thinking about preparing a durable power of attorney. This indicates that he wants to

• A) ensure that a single lawyer will be able to handle all of his legal needs.
• B) declare that his current will is invalid.
• C) eliminate the taxes on his estate when he dies.
• D) appoint someone to take over his finances if he should become incapacitated.

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Definitions:

Standard Production Time

The amount of time that should reasonably be expected to manufacture a product under normal conditions.

Fringe Benefits

Additional benefits supplementing an employee's salary, such as health insurance, paid vacation, or a company car.

Freight Costs

Expenses incurred by a company to transport goods from one place to another.

Purchase Price

The amount of money paid to acquire a good, service, or asset.