The property will be distributed to his heirs as specified in his will or by state law of descent.
Is a descendant the same as an heir?
Descendant: one who is related to an ancestor in blood. Children, grandchildren, and great-grandchildren are all descendants. Direct Successor or Subject: one who comes from the deceased's immediate family. Children, grandchildren, parents, and grandparents are all included in this.
What to Take Away When a deceased person did not make a formal will and testament, an heir is the person who is legally entitled to receive an inheritance. Beneficiaries who, taking everything into account, acquire the property are youngsters, relatives, or other direct relations of the decedent.
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Answer: Resources
Explanation: The production possibility model is used by the economist to evaluate the relationship between scarcity and resources. The basic assumption while preparing a PPM is that the time frame and resources for production such as capital, land and labor are fixed.
The PPM shows the production possibilities in an economy using only two goods. One of which is shown in X axis and one in Y axis. It helps to calculate the quantity of two goods that are to be produced with limited resources, resulting in maximum output to the economy.
Investment includes all expenditures on new plant and equipment plus changes in business inventories.
Given that expenditure is done on new plant and equipment plus changes in business inventories.
We are required to find the name of the term that includes all the expenditures given in question.
The correct term which includes the expenditures on new plant and equipment plus changes in business inventories is investment.
Investment includes all those expenditures which are done in order to get benefit in future.In our question the expenditure on new plant and equipment plus changes in business inventories increases the productivity of the company.
Hence expenditures on new plant and equipment plus changes in business inventories defines investment.
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Answer:
Present value of annuity = PV(8%,40,-200,0,0)
Present value of annuity = $2,384.93
Present value of Perpetuity = 200/ 8%
Present value of Perpetuity = 200 / 0.08
Present value of Perpetuity = 2500
The difference between the Present value = $2,500 - $2,384.93 = $115.07
However, both does not equal as time value has to be considered.