What Is Partible Inheritance

question 11

Multiple Choice

What is partible inheritance?

• A)a form of inheritance in which property is passed undivided to one heir
• B)a form of inheritance in which property is divided in two portions and given to the widow and the oldest son
• C)a form of inheritance in which property is divided among all offspring
• D)a form of inheritance in which all property is given back to the matrilineage

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Definitions:

Adjusting Entry

A record entered at the conclusion of an accounting cycle to assign revenues and expenses to the appropriate period.

Discounted Note

A promissory note, or loan agreement, where the interest is deducted from the principal amount at the time the loan is issued.

Interest

The cost of borrowing money or the earnings from lending money, calculated as a percentage of the principal amount.

Adjustment Interest

Adjustment Interest involves the modification of interest income or expense to correct or update the recorded interest in financial records.