Which of the Following Is Not an Example of Nonprobate

question 264

Multiple Choice

Which of the following is not an example of nonprobate property?

• A)Property owned by joint-tenancy with rights of survivorship
• B)Property designated in a will
• C)A retirement account such as a 401(k) or IRA
• D)A bank account with a payable-on-death designation

---

Definitions:

Computerized Accounting Systems

Digital systems that automate and manage financial transactions and records, enhancing accuracy and efficiency in financial reporting.

Journalizing Errors

Mistakes made during the process of recording transactions in the accounting journal.

Record Keeping

The process of maintaining accurate and systematic records of an organization's financial transactions and other significant events.

Timeliness

The quality of being done within a desirable time frame or deadline, often crucial for decision-making or reporting.