In a Basic Will the Clause That Outlines the Distribution

question 34

Multiple Choice

In a basic will the clause that outlines the distribution of specific personal property, such as furniture, jewellery, cars, RRSPs, RRIFs, and pensions is the __________________

• A) identification and revocation clause
• B) specific bequests clause
• C) legacies clause
• D) power clause
• E) testimonium and attestation clause

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Definitions:

Transferred

Transferred refers to the process of moving assets, responsibilities, or rights from one entity to another.

Customers

They are the individuals or businesses that purchase goods or services from a company, essentially driving its revenue.

Cash Collected

The total amount of money received by a company during a specific period, often through sales or services rendered.

Accrual Basis

An accounting method that records revenues and expenses when they are earned or incurred, regardless of when cash transactions occur.