A Payable-On-Death Designation Can Be Used to Set Up an Individual

question 4

True/False

A payable-on-death designation can be used to set up an individual account that automatically goes to another person when you die.

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Definitions:

Merchandise

Goods or products that are bought, sold, or traded in the course of business operations.

Payment

The transfer of money or goods from one party to another in exchange for goods, services, or to fulfill a contractual obligation.

Discount

denotes a reduction in the price of goods or services typically offered for promotional reasons or to certain groups of customers.

Supplier

An individual or company that provides goods or services to another entity under terms specified in a contract.