Kendall Executes a Separate Written Instrument to Amend Her Prior

question 17

Multiple Choice

Kendall executes a separate written instrument to amend her prior will. This separate document is

• A) a codicil.
• B) a constructive will.
• C) an inter vivos will.
• D) a nuncupative will.

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Definitions:

Book Value

The net value of a company's assets and liabilities as recorded on the balance sheet, often compared to market value.

Fixed Asset

Long-term tangible property owned by a business, intended for use in the production of income and not quickly converted into cash.

Plant Asset

Long-term tangible assets used in the operations of a business that are not intended for sale.

Disposal

The act of getting rid of an asset through sale, exchange, retirement, or destruction.