________ Is a Principle That Says If a Testator Leaves

question 85

Multiple Choice

________ is a principle that says if a testator leaves a specific devise of property to a beneficiary, but the property is no longer in the estate when the testator dies, the beneficiary receives nothing.

• A) Ademption
• B) Abatement
• C) Bailment
• D) Attestation

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Definitions:

Fixed Costs

Costs that remain constant regardless of a company's level of activity, including expenses like lease payments, wages, and premiums.

Break-even Point

The point at which total costs and total revenue are equal, meaning no net loss or gain, and the business has "broken even."

Sales Dollars

A term used to represent the total value, in monetary terms, of all sales transactions within a specified period.

Variable Costs

Operating expenses that fluctuate based on business operations.