​Kit Has Two Children, Lea (The Eldest) and Merl, Both

question 57

Multiple Choice

​Kit has two children, Lea (the eldest) and Merl, both of whom predecease Kit. Lea is survived by a son, Nat, and Merl by two daughters, Opal and Pearl. On Kit's death, if the estate is distributed per capita

• A) ​Nat will receive one-half of the estate, and Opal and Pearl will each receive one-fourth.
• B) ​Nat will receive the entire estate.
• C) ​the grandchildren will each receive one-third of the estate.
• D) ​the grandchildren will not receive anything.

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Definitions:

Utilities

Expenses for basic services like electricity, water, and gas required for a business's operations.

Managerial Salaries

Compensation paid to individuals who are responsible for overseeing and directing the operations within a company or organization.

Overapplied

A situation in cost accounting where the allocated cost is greater than the actual cost, often requiring adjustment.

Machine Hours

A measure of production time or operational usage, calculated by the number of hours a machine is run in a specific period.