A Gift That Is Specified in a Will as "I

question 48

Multiple Choice

A gift that is specified in a will as "I leave $5,000 in cash to my son" is a

• A) general legacy.
• B) specific legacy.
• C) demonstrative legacy.
• D) residual legacy.
• E) devise.

---

Definitions:

Operating Budget

A detailed projection of all projected income and expenses over a specific period, typically a financial year, used for running daily operations.

Quantitative Approaches

Research or analysis methods that involve the use of statistical, mathematical, or computational techniques to study phenomena and draw conclusions.

Forecasting

The method of making predictions based on past and present data and analyzing trends.

Planning Tool

An instrument or method used to outline the steps necessary to achieve an objective, including timelines, resources, and specific actions.