In a Basic Will the Clause That Enables Your Executor

question 47

Multiple Choice

In a basic will the clause that enables your executor to exercise various powers in the management of your estate without the approval of the court 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:

Acid-Test Ratio

A financial metric that measures a company's ability to pay off its current liabilities with its most liquid assets, without relying on inventory.

Debt Ratio

A financial ratio that measures the proportion of total debt to total assets, indicating the company's leverage and financial health.

Equity Ratio

A financial ratio indicating the proportion of shareholder equity as a part of the total assets owned by a company.

Days' Sales Uncollected

A financial metric used to determine the average number of days it takes for a company to collect revenue after a sale has been made.