The Reason You Would Prepare a Durable Power of Attorney

question 235

True/False

The reason you would prepare a durable power of attorney is to make sure that someone was named to take over your finances if you become incapacitated.

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Definitions:

Accounts Payable Period

This is the average number of days it takes for a business to pay its invoices from suppliers and vendors, indicating the efficiency of its payables management.

Letter Of Credit

A financial document issued by a bank guaranteeing a buyer's payment to a seller within a specified timeframe.

Written Statement

A document that records the details of a declaration or an agreement in writing.

Bank Payment

is a transaction where money is transferred from one bank account to another to fulfill a financial obligation.