If You Die Without a Valid Will, You Die

question 73

Multiple Choice

If you die without a valid will, you die

• A)intestate.
• B)in peace.
• C)in trust.
• D)prenuptially.
• E)in turmoil.

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Definitions:

Credit Standards

The criteria and measures used by lenders to determine the creditworthiness of potential borrowers.

Bad-Debt Losses

Financial losses that occur when borrowers fail to pay back their loans.

Average Collection Period

The average number of days it takes for a business to receive payments owed by its customers.

Average Collection Period (ACP)

A financial ratio that measures how long it takes to collect on credit sales. Also called days sales outstanding (DSO).