Which of the Following Is a Formality Usually Required by State

question 21

Multiple Choice

Which of the following is a formality usually required by state law for the creation of a valid will?

• A)The will must be witnessed and signed by at least two persons who stand to inherit under the will.
• B)Notice of the making of the will must be published in the newspaper.
• C)The will must be signed by the testator or by someone else at the testator's direction.
• D)The testator should declare,after the signing,that the instrument is his will.

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Definitions:

Bond Interest

The periodic payment made to bond investors, representing the interest earned on the bond's face value.

Amortization

The process of gradually writing off the initial cost of an asset over its useful life or the repayment of a loan over time through scheduled payments.

Bond Discount

The gap between what a bond is worth (its face value) and the lower amount it is sold for in the market.

Amortization Methods

Various techniques used to gradually write off the initial cost of an intangible asset over a period.