A ______ Is a Written Document Executed When the Principal

question 4

Multiple Choice

A ______ is a written document executed when the principal is in good mental health that allows an agent to make medical decisions for the principal at some later date when the principal can no longer make decisions.

• A) Durable power of attorney
• B) Medical care proxy
• C) Medical decision contract
• D) Medical agent proxy
• E) Living health proxy

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Definitions:

Liability

A company's financial debt or obligations that arise during the course of its business operations.

Probable Loss

An estimated loss from a contingent liability that is likely to occur and can be reasonably estimated.

Reasonably Possible

Describes a level of likelihood that something might occur, under consideration in areas like assessments of contingent liabilities.

U.S. GAAP

Generally Accepted Accounting Principles in the United States, a framework of accounting standards, principles, and procedures used in the compilation of financial statements.