If You Marry After You Have Made a Will,you Are

question 72

True/False

If you marry after you have made a will,you are better off drawing a new will to fit your new circumstances.

Understand the classification and reporting of current liabilities on the balance sheet.

Calculate and journalize estimated expenses associated with gift card issuance and redemption.

Calculate, journalize, and understand product warranty liabilities and their impact on financial statements.

Recognize and journalize contingent liabilities and understand the requirements for note disclosures related to contingencies.

---

Definitions:

Restatement of Contracts

The Restatement of Contracts is a comprehensive compilation of general principles regarding contract law, serving as a guide for judges and lawyers.

Judicial System

The system of courts that interprets and applies the law in the name of the state or country.

Implied Warranty

An unwritten guarantee that the product will meet a minimum level of quality implying that it is fit for sale as intended.

Disclaim

To refuse a right or renounce a claim to something, often as a legal declaration.