A Legal Document in Which Individuals Specify Their Preferences in the Event

question 36

Multiple Choice

A legal document in which individuals specify their preferences in the event that they become mentally or physically disabled is called a

• A)living trust.
• B)living will.
• C)power of attorney.
• D)letter of wishes.

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Definitions:

Net Realizable Value

The estimated selling price in the ordinary course of business, minus any costs of completion, disposal, and transportation.

Inventory Figure

The total value of a company's merchandise, raw materials, and finished and unfinished products which have not yet been sold.