INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

question 6

Multiple Choice

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.
-If you consider wealth only,anyone with an estate expected to exceed [$500,000 | $1,000,000] in 2012 must consider estate planning.

• A)for the first item
• B)for the second item
• C)if neither item will correctly complete the statement.

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Definitions:

Journal Entries

The foundation of the double-entry bookkeeping system, journal entries record all financial transactions in a company's accounting system.

Forward Contract

An individually tailored pact between two sides for the buying or selling of an asset at an agreed price on a future date.

Thermal Compressors

Devices that use thermal energy to compress or expand gases in various industrial processes, often seen in refrigeration and air conditioning systems.

Spot Rate

The ongoing market rate for buying or selling a particular currency, with immediate transfer.