When Distributees Stand in Different Degrees of Relationship

question 53

Multiple Choice

When distributees stand in different degrees of relationship:

• A) distribution is made per stirpes.
• B) distribution is made per capita.
• C) a distribution cannot be made without the consent of the state.
• D) none of the above.

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Definitions:

Apply

To make use of or put into effect; in accounting, it may refer to applying principles or policies.

Market Value

The current price at which an asset or service can be bought or sold in an open market.

Split-Off Method

A cost allocation method used in process costing that divides joint costs among different products at the point of separation.

Joint Costs

The costs incurred in the process of producing two or more products simultaneously from the same input or process.