Which One of the Following Is Not True of the Executor

question 139

Multiple Choice

Which one of the following is not true of the executor?

• A)The executor will normally be paid a fee for services performed.
• B)The named executor does not have the right to decline appointment as executor.
• C)Unless stated otherwise in the will,the executor must post bond to guarantee performance of duties.
• D)The executor manages the estate during probate.

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Definitions:

Federal Reserve

The central banking system of the United States, responsible for monetary policy, banking supervision, and financial services.

Parties to a Check

The individuals or entities involved in a check transaction, including the drawer, payee, and drawee.

Maker

The party in a promissory note who is making the promise to pay.

Petty Cash

A petty cash reserve intended for settling small expenses that don't justify the use of a check.