Jock Makes a Will

question 23

Multiple Choice

Jock makes a will.As a person who makes a will,Jock is

• A)an administrator.
• B)an executor.
• C)a settlor.
• D)a testator.

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Definitions:

Financial Reporting Period

The time period covered by financial statements, typically a fiscal quarter or year.

Subsidiary

A company that is completely or partially owned and controlled by another company, known as the parent company.

Financial Statements

Documents that provide an overview of a company's financial condition, including the balance sheet, income statement, and statement of cash flows.

General Purpose Financial Statements

Financial reports prepared by a company to meet the information needs of external stakeholders who are not in a position to demand reports tailored to their own needs.