​Rose Makes Out a Will in Which Steve Is Appointed

question 1

Multiple Choice

​Rose makes out a will in which Steve is appointed to administer the will. After Rose dies, Steve cannot administer the will, and a court appoints Terry to handle the probate of the estate. In this situation, the executor is

• A) ​Ross.
• B) ​Steve.
• C) ​Terry.
• D) ​the court.

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Definitions:

Short-Term Notes Payable

Short-duration loans evidenced by promissory notes that a company must pay within a year or within its operating cycle, whichever is longer.