The Individual Appointed by the Judge to Manage the Estate

question 117

Multiple Choice

The individual appointed by the judge to manage the estate immediately after death when there is no valid will is known as the

• A)executor.
• B)administrator.
• C)grantor.
• D)grantee.

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Definitions:

Non-recurring Measurements

Financial assessments that are unusual or infrequent and not expected to happen often in the future.

Corresponding Asset

An asset that is directly related or linked to another activity or transaction, often in financial reporting or accounting.

Provision For Warranties

An estimate of future costs related to repairing or replacing products under warranty, recognized as a liability on the balance sheet.

Equity Instruments

Financial securities that represent ownership interest in a company, such as stocks.