In an Intestate Distribution, Personal Property Is Distributed

question 49

Multiple Choice

In an intestate distribution, personal property is distributed

• A)​under the laws of the state where the property is located.
• B)​under the laws of the state in which the decedent was domiciled.
• C)​directly to the devisee.
• D)​directly to the legatee.

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Definitions:

Accounts Receivable

A financial record representing the money owed to a company by its customers for goods or services delivered on credit.

Profitability Ratio

A category of financial metrics used to assess a business's ability to generate earnings relative to its revenue, assets, equity, or other financial aspects.

Payout Ratio

A financial metric indicating the proportion of earnings a company pays to its shareholders in dividends, expressed as a percentage of the company's net income.

Times Interest Earned

Times Interest Earned is a financial metric that measures a company's ability to meet its interest obligations, calculated as earnings before interest and taxes divided by interest expense.