Assuming at the Time of Death the Estate Included 1,400

question 40

Multiple Choice

Assuming at the time of death the estate included 1,400 shares of Wal-Mart Stores stock and $25,000 cash in the savings account, what would the son have received from the settlement of the estate?

• A) 1,000 shares of Wal-Mart stock and $15,000 cash
• B) 1,000 shares of Wal-Mart stock and $0 cash
• C) 1,000 shares of Wal-Mart stock and $10,000 cash
• D) 1,200 shares of Wal-Mart stock and $5,000 cash
• E) 1,400 shares of Wal-Mart stock and $5,000 cash

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Definitions:

Direct Labor Costs

The wages and benefits paid for labor that is directly involved in the production of goods.

Property, Plant, and Equipment

Long-term tangible assets that a company uses in its operations and that are expected to provide benefits for more than one year.

Standard Cost

A predetermined cost of manufacturing a product or providing a service, under normal conditions, which serves as a benchmark for measuring performance.

Direct Labor Workers

Direct Labor Workers are employees who are directly involved in the production of goods or services, whose wages are considered part of the direct costs of production.