The Person Designated in a Will to Execute Your Instruction

question 102

Multiple Choice

The person designated in a will to execute your instruction regarding the distribution of your assets is called a(n)

• A) executor.
• B) guardian.
• C) business associate.
• D) attorney.

---

Definitions:

Common Fixed Expenses

Expenses that remain constant in total regardless of changes in the level of activity or volume of output.

Break-even

The point at which total cost and total revenue are equal, meaning there is no net loss or gain.

Net Operating Income

The total profit of a company after operating expenses but before deducting interest and taxes.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, detailing the net profit or loss.