Distribution ________ Means Distributing an Estate by Class or Representation

question 56

Multiple Choice

Distribution ________ means distributing an estate by class or representation.

• A)Per capita
• B)Per behest
• C)Per ambulatory
• D)Per clear
• E)Per stirpes

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Definitions:

Book Income

The income or profit reported by a company in its financial statements before adjustments for taxes, as per accounting rules, different from taxable income.

Taxable Income

The amount of an individual’s or corporation's income used to determine how much tax is owed, calculated as gross income minus deductions and exemptions.

Fiscal Year-End

The fiscal year-end is the conclusion of a 12-month or 52-week period over which a company or organization measures its financial performance.

Automatic Extension

An automatic extension grants taxpayers additional time to file their tax returns without the need for an explanation.