Which of the Following Is True of a General Power

question 46

Multiple Choice

Which of the following is true of a general power of attorney?

• A) A power of attorney can be oral.
• B) Only lawyers can be agents of a power of attorney.
• C) A power of attorney cannot be claimed once the principal is incapacitated.
• D) It may allow the agent to sign legal documents on the principal's behalf.

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Definitions:

Corrected Trial Balance

A trial balance prepared after all adjustments, errors, and corrections have been made, serving as the basis for financial statement preparation.

Accounts Debited

Accounts that are increased with a debit entry, typically including assets and expenses.

Trial Balance Totals

The aggregate amounts of all debit and credit balances in a company's ledger accounts at a specific point in time, used to ensure that debits equal credits.

Cash Withdrawal

The process of taking out cash from a bank account or the act of receiving cash from any fund, essentially reducing the balance.