All categories

3 years ago

Difference between a will and a living trust

Business

1 answer:

aev [14]3 years ago

7 0

Answer:

A will gets into effect after a person dies. trust gets into effect as soon as it is created. The will covers all the property under the individual's name. Trust covers property which has been transferred in the name of the trust.

Explanation:

A will directs who will receive his property after an individual's death. It also appoints a representative to carry out the wishes of the deceased. A trust on the other hand can divide the property before, after or at death.

A will is a document through which a person expresses his wishes about how his property is to be distributed, it can also contain details regarding funeral.

A trust is an arrangement through which property of an individual is held by other individuals or institution.

You might be interested in

A recent study on enrollment at a liberal arts college concluded that demand elasticity is 0.91. The administration is consideri

Julli [10]

Based on the fact that the demand elasticity is 0.91, the revenue-maximizing decision would be to d. increase tuition, which would generate more revenue.

<h3>Why is this the revenue-maximizing decision?</h3>

When the demand elasticity is below 1 as is the case here, it means that demand is inelastic.

When demand is inelastic, an increase in price will lead to a lower decrease in demand. This means that increasing prices for enrollment in this college will bring in revenue because there won't be much change in demand.

In conclusion, option D is correct.

Find out more on demand elasticity at brainly.com/question/6791468.

6 0

2 years ago

The _____ refers to the consumer's perception of the product as a bundle of values of utilitarian and symbolic values that satis

Mamont248 [21]

Answer:

Product Concept

Explanation:

The one which represent the perception of the consumer or customer of the product as a bundle of the values of symbolic as well as utilitarian values and that satisfy the psychological, functional, social and the other needs and wants of the customer will be referred to as the product concept. And it is basically a blueprint of the idea.

7 0

3 years ago

What are price, output, profits, marginal revenues, and deadweight loss if the monopolist can price discriminate? (round al

Salsk061 [2.6K]

Complete question:

A monopolist is deciding how to allocate output between two geographically separated markets (East Coast and Midwest). Demand and marginal revenue for the two markets are: P1 = 15 - Q1MR1 = 15 - 2Q1P2 = 25 - 2Q2MR2 = 25 - 4Q2. The monopolist’s total cost is C = 5 + 3(Q1 + Q2 ).

What are price, output, profits, marginal revenues, and dead-weight loss

(i) if the monopolist can price discriminate?

(ii) if the law prohibits charging different prices in the two regions?

Solution:

Through price control, the monopolist selects quantity in each sector in such a manner that total income of each business is equivalent to total expense. The marginal cost is equivalent to three (the slope of the overall cost curve).

In the first market

15 - 2Q1 = 3, or Q1 = 6.

In the second market

25 - 4Q2 = 3, or Q2 = 5.5

Substituting into the respective demand equations, we find the following prices for the two markets : P1 = 15 - 6 = $9 and P2 = 25 - 2(5.5) = $14.

Noting that the total quantity produced is 11.5, then

π = ((6)(9) + (5.5)(14)) - (5 + (3)(11.5)) = $91.5.

The monopoly dead-weight loss in general is equal to

DWL = (0.5)(QC - QM)(PM - PC ).

Here, DWL1 = (0.5)(12 - 6)(9 - 3) = $18 and

DWL2 = (0.5)(11 - 5.5)(14 - 3) = $30.25.

Therefore, the total dead-weight loss is $48.25.

Without pricing disparity, the monopoly holder would demand a single price for the whole sector. To optimize income, we find that the total revenue is equivalent to the total expense. Using demand calculations, we note that the complete market curve is kinked to Q = 5:

P=25-2Q, if Q≤518.33-0.67Q, if Q5 .

This implies marginal revenue equations of MR=25-4Q, if Q≤518.33-1.33Q, if Q5

With marginal cost equal to 3, MR = 18.33 - 1.33Q is relevant here because the marginal revenue curve “kinks” when P = $15.

To determine the profit-maximising quantity, equate marginal revenue and marginal cost: 18.33 - 1.33Q = 3, or Q = 11.5.

Substituting the profit-maximizing quantity into the demand equation to determine price :P = 18.33 - (0.67)(11.5) = $10.6.

With this price, Q1 = 4.3 and Q2 = 7.2.

(Note that at these quantities MR1 = 6.3 and MR2 = -3.7).

Profit is(11.5)(10.6) - (5 + (3)(11.5)) = $83.2.

Dead-weight loss in the first market is DWL1 = (0.5)(10.6-3)(12-4.3) = $29.26.

5 0

3 years ago

If a balance exists in the temporary moh account at the end of the period, it can be ignored for purposes of preparing the com

Volgvan

The statement "If a balance exists in the temporary MOH account at the end of the period, it can be ignored for purposes of preparing the company’s financial statements" is False.

The manufacturing overhead (MOH) price is the sum of all the oblique expenses which can be incurred while producing a product. Its miles brought to the value of the very last product alongside the direct cloth and direct labor prices.

Manufacturing overhead is a cost listed below the cost of income, in this case, referred to as the price of products synthetic. It's far something of a trap-all term for the expenses needed to run the facilities to manufacture the business's products intended on the market.

Examples of MOH

Electricity or gas is utilized in a manufacturing facility.
Different utilities, inclusive of water and trash provider.
Unexpected repairs.
Supervisors or managers within the factory.
Depreciation of a construction's value.
Rent and assets taxes.
Equipment depreciation.

Learn more about manufacturing overhead here brainly.com/question/13312583

#SPJ4

8 0

1 year ago

The individuals at the International Fireplace Shoppe perform the following duties:Individual E Roles and Responsibilities:1. Ro

balu736 [363]

Where the question????

3 0

3 years ago