Choose the Word or Phrase in [ ] Which Will

question 143

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-A [savings account | retirement account] would be an example of a liquid asset.

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Definitions:

Deed of Land

A legal document that represents the ownership of property and transfers the title from one party to another.

Statute of Frauds

A legal principle requiring certain contracts to be written and signed to be enforceable.

Executor

A person named in a will or appointed by a court to administer the estate of a deceased person.

Liquidated

The process of converting assets into cash, often referring to the disbanding of a company and selling off its assets.