Which of the Following Statements Is False

question 47

Multiple Choice

Which of the following statements is false?

• A) People with a small amount of assets do not typically need a will.
• B) A parent can use a will to appoint a guardian for his/her children.
• C) A valid will can minimize probate problems.
• D) A legally enforceable will must be made when a person is of sound mind.

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Definitions:

Exchange

The act of trading goods, services, or currencies between two or more parties.

Trading Partners

Countries, entities, or individuals that exchange goods, services, or resources among each other.

Law of Comparative Advantage

The principle that a country should specialize in producing and exporting goods in which it has the lowest opportunity cost and import goods in which it has a comparative disadvantage.

Specialization

The process of focusing on a limited range of goods or services to gain efficiency or expertise.