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Ymorist [56]
3 years ago
12

When people die, they usually own property, owe debts, and may be owed money by other people. The probate process is often requi

red to settle an estate. If the decedent has a valid will, he or she may have appointed a personal representative known as _____________ to supervise the probate process and settle the estate. However, if the decedent does not have a valid will, the probate process is usually supervised by a court-appointed _________
Business
1 answer:
liq [111]3 years ago
4 0

1. The personal representative of a decedent is known as an executor.

2. In a situation where the decedent does not have a valid will, the court-appointed representative who supervises the probate process is called an <u>administrator</u>.

<h3>What is the probate process?</h3>

The probate process refers to the formalized legal process followed to recognize a will and appoint the executor or administrator (as the decedent's personal representative) to administer the estate and distribute assets to the intended beneficiaries.

The executor or administrator is responsible for supervising the probate process and settling the estate of the deceased or decedent.

Thus, whereas, the personal representative of a decedent is called an <u>executor</u> with a valid will, they are known as <u>administrators</u> when the court appoints them to the office.

Learn more about administering a will at brainly.com/question/25694947

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Which type of agreement assures that a broker will receive compensation regardless of who procures the buyer?a. Net listingb. Ex
natita [175]

Answer:

b. Exclusive right to sell

Explanation:

-Net listing is when the agent is able to keep the difference when a property is sold for more than the asking price.

-Exclusive right to sell is when the seller gives the agent the right to market the property and accepts to pay the comission to the agent if the property is sold during the period of the listing.

-Open listing is when a property has different agents and the one that gets the buyer receives the comission.

-Exclusive agency is when the seller gives an agent the right to market a property but the seller is able to sell the property to a buyer that was not found by the agent and in that case, the seller doesn't have to pay the comission to the agent.

According to this, the answer is that the type of agreement that assures that a broker will receive compensation regardless of who procures the buyer is exclusive right to sell because the agent is granted the right to sell the property and the seller agrees to pay the comission if the property is sold during the time of the listing last and it doesn't matter who finds the buyer.

7 0
4 years ago
A company manufactures and sells blank audiocassette tapes. The weekly fixed cost is ​$10,000 and it costs ​$0.40 to produce eac
sasho [114]

Answer:

6251 tapes

Explanation:

Given: fixed cost is ​$10,000.

           Variable cost is $0.40 to produce each tape.

            Selling price is $2 per tape.

Lets assume number of tapes to be produced and sold be "x"

We know, Total cost= Fixed\ cost+ Variable\ cost

∴ Total cost= 10000+ 0.40\times x

Total cost= 10000+0.40x

As given, selling price is $2 per tape.

∴ For attaining break even point, Tota cost = Selling price.

10000+0.40x= 2x

Solving the equation to find the value of x

⇒ 10000+0.40x= 2x

Subtracting both side by 0.4x

⇒10000= 1.60x

Dividing both side by 1.60

⇒ x= \frac{10000}{1.60}

∴ x= 6250

Hence, number of tapes must be sold and purchased is 6250 to attain break even in the business, however selling one more tapes will get profit is 6251.

4 0
3 years ago
Arrow Printers paid $2,000 interest on short-term notes payable, $10,000 interest on long-term bonds, and $6,000 in dividends on
Andrej [43]

Answer:

C) Operating, $12,000; financing $6,000.

Explanation:

Interests expenses do no change the notes payable or bond, but results in the reduction of the cash flow of a company. Therefore, the interests paid on both short terms notes payable and interest on long-term bonds will appear under the operating activities section of the cash flow statement.

Dividend appears under the financing activities section of the cash flow statement.

For this question, we therefore have:

Cash outflows from operating activities = Interest on short-term notes payable + Interest on long-term bonds = $2,000 + $10,000 = $12,000

Cash outflows from financing activities = Dividends on common stock = $6,000

Therefore, the correct option is C) Operating, $12,000; financing $6,000.

4 0
3 years ago
Laura has started saving so she can be ready for any emergency situation that might involve a huge expense. The most important r
inessss [21]

Answer:

liquidity

Explanation:

6 0
4 years ago
Read 2 more answers
Abraham’s Eatery uses a lunch box supplier that has a sales rep come by weekly to order boxes. Abraham wants a 98% service level
fredd [130]

Answer:

There is no enough information to answer this question

Explanation:

5 0
4 years ago
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