​In His Will, Jason Leaves $10,000 to Each of His

question 52

Multiple Choice

​In his will, Jason leaves $10,000 to each of his three children. However, after Jason dies and all his debts are paid, there is only $9,000 left in his estate. Each child will receive

• A) ​$10,000.
• B) ​$3,000.
• C) ​$1,000.
• D) ​$500.

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Definitions:

Limited Liability Company

An organizational form blending a corporation's limited liability feature with the pass-through tax benefits of a partnership or sole proprietorship.

Manager Liability

The responsibility and potential legal accountability of managers for actions taken within the scope of their managerial roles.

Limited Liability Company

A corporate structure that integrates the limited liability characteristic of a corporation with the tax-pass-through trait of sole proprietorships or partnerships.

Aggregate

A total or sum made from individual parts.