Which of the Following Is True Regarding Property Distribution Upon

question 59

Multiple Choice

Which of the following is true regarding property distribution upon a person's death intestate?

• A)At common law, property lineally ascended to parents if there was no surviving spouse and there were no children.
• B)Today, in all states, if there is a surviving spouse, he or she gets the entire estate.
• C)Rules of descent vary widely from state to state.
• D)Both (a) and (c).

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Definitions:

Operating Segment

A component of an enterprise that engages in business activities from which it may earn revenues and incur expenses, including segments with intersegment revenues.

Revenue Test

A criterion used to determine the significance of a segment or component of a business by comparing its revenue to a set percentage of the total revenue of the entire entity.

Total Revenues

The aggregate amount of income generated from normal business operations, including sales of goods and services, before any expenses are deducted.

Segment Revenues

The income generated from one specific segment of a business, reflecting the financial performance of that segment.