Table 8-30 -Refer to Table 8-30.The Table Above Represents Hypothetical Data from Represents

question 172

Essay

Table 8-30

-Refer to Table 8-30.The table above represents hypothetical data from the National Income Accounts for 2017.Use the data to calculate personal income and disposable personal income.

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Definitions:

Nonprobate

Refers to assets or property that will pass to survivors by means other than a will, such as through trust or designated beneficiary.

Ambulatory

A term pertaining to the ability of a will to be changed by a testator.

Bequest

The act of giving property or money to someone else after one's death through a will.

Devise

In law, a gift of real property by will.