_____ Reports Are Reports That Are Automatically Produced When a Situation

question 77

Short Answer

_____ reports are reports that are automatically produced when a situation is unusual or requires management action.

---

Definitions:

Taxable Income

The portion of income, subject to taxes, calculated by deducting allowable deductions from gross income.

Charge and Discharge Statement

A financial report detailing the charges (debts or obligations) and discharges (payments or settlements) within a specific period.

Remainderman

An individual who inherits or is entitled to inherit property upon the expiration of a life estate.

Estate Accounting

The process of preparing and managing the financial records of an individual's estate following their death, including the calculation of assets, liabilities, and distribution to heirs.