Which of the Following Is Not Necessary for a Will

question 60

Multiple Choice

Which of the following is not necessary for a will to be valid?

• A)All heirs must agree to the terms of the will
• B)The will must be dated
• C)The will must be signed
• D)The person writing the will must be sober at the time the will is written

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Definitions:

Carrying Cost

Carrying cost refers to the total cost of holding inventory, including storage, insurance, taxes, opportunity costs, and depreciation.

Order Cost

The administrative and logistical expenses associated with making and processing an order for goods or services.

Economic Order Quantity

An inventory management formula that determines the ideal order size to minimize the costs of holding and ordering inventory.

Variable Cost

Variable cost refers to expenses that change in proportion to the activity of a business, such as costs for raw materials or production that increase or decrease based on the volume of production.