You Should Review Your Will If

question 24

Multiple Choice

You should review your will if:

• A)you move to a different province.
• B)you have sold property mentioned in the will.
• C)the size and composition of your estate has changed.
• D)you have married, divorced, or remarried.
• E)moving to a different province; selling property; changes to the size of one's estate; and marrying, divorcing, or remarrying are all good reasons to review your will.

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Definitions:

Normal Balance

The side of the account (debit or credit) where increases to the account are recorded, based on the double-entry accounting system.

T Account

A graphical representation in the shape of a "T" used in accounting to depict the debit and credit transactions of a particular account.

Horizontal Analysis

A financial analysis technique that compares historical data or ratios across different periods to identify trends and growth.

Income Statement

A financial statement that shows a company's revenues, expenses, and net income over a specific period of time.