INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

question 128

Multiple Choice

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.
-Assets held in a trust created during a person's lifetime [will | will not] go through the probate process after the death of the creator.

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

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Definitions:

Consulting Services

Professional services provided by experts who offer advice and expertise to businesses and individuals to improve their operations, strategy, and performance.

Journal Entry

A record of a transaction in the accounting journal that details which accounts are affected and in what way.

Payment Promise

A commitment by one party to pay another, often documented in a formal agreement or note.

Common Stock

A type of security that represents ownership in a corporation, entitling holders to a share of the company’s profits through dividends and/or capital appreciation.