Which of the Following Is True Regarding the Passing of Community

question 62

Multiple Choice

Which of the following is true regarding the passing of community property upon the death of one of the owners?

• A) The community-property interest of a spouse may be separately willed upon death; and in the absence of a will,community property passes to the other spouse.
• B) The community-property interest of a spouse may be separately willed upon death; and in the absence of a will,passes to the surviving spouse and any surviving children in equal shares upon the death of one of the spouses.
• C) The community-property interest of a spouse may not be separately willed upon death and passes to the other spouse automatically upon the death of one of the spouses.
• D) The community-property interest of a spouse may not be separately willed upon death and passes to the surviving spouse and any surviving children in equal shares automatically upon the death of one of the spouses.

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Definitions:

Revenue Variance

The difference between how much the revenue should have been, given the actual level of activity, and the actual revenue for the period. A favorable (unfavorable) revenue variance occurs because the revenue is higher (lower) than expected, given the actual level of activity for the period.

Cost Variance

The difference between the expected cost of a project or production process and the actual cost incurred.

Labour Efficiency Variance

A measure used in cost accounting to evaluate the difference between the actual hours worked and the standard hours expected to produce a certain level of output.

Production Manager

The person responsible for overseeing the production process and ensuring that manufacturing runs smoothly and efficiently.