Which of the following statements is true of a testator's signature on a will?
A) The testator's signature must be obtained in the presence of the sole beneficiary as the principal witness.
B) The will need not be signed by the testator if it is already attested by witnesses.
C) The use of nicknames and honorary titles while signing a will render it unenforceable and invalid.
D) The testator's signature must appear at the end of the will to prevent chances of any fraud.
D
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Which of the following is an appropriate presentation of treasury stock?
a. As a marketable security b. As a deduction at cost from total stockholders' equity c. As a deduction at cost from total contingent liabilities d. As a deduction at par from total stockholders' equity
Tokyo Motor Company (Tokyo), a Japanese car manufacturer, reported Sales of Products of ¥22,670 billion for the year ended March 31, 2014 . The Cost of Products Sold was ¥18,356 billion. Assume that Tokyo made all sales on credit. Select the correct journal entries that Tokyo made during the fiscal year ended March 31, 2014, related to these transactions. [Tokyo applies U.S. GAAP, and reports
its results in millions of yen (¥).] a. Accounts Receivable ¥22,670 billion Inventories ¥22,670 billion Cost of Goods Sold ¥18,356 billion Revenues ¥18,356 billion b. Accounts Receivable ¥18,356 billion Inventories ¥18,356 billion Cost of Goods Sold ¥22,670 billion Revenues ¥22,670 billion c. Accounts Receivable ¥18,356 billion Revenues ¥18,356 billion Cost of Goods Sold ¥22,670 billion Inventories ¥22,670 billion d. Accounts Receivable ¥22,670 billion Revenues ¥22,670 billion Cost of Goods Sold ¥18,356 billion Inventories ¥18,356 billion e. none of the above
When accounting for a fair value hedge of a recognized asset or liability, at the end of each period, the firm remeasures the hedged asset or liability to fair value and includes the resulting gain or loss in net income, and the derivative instrument (hedging instrument) to fair value and includes the resulting loss or gain in net income
Indicate whether the statement is true or false
Credit cards with tiered interest rates charge cardholders who
A) carry large balances a lower rate. B) pay off their balance monthly a higher rate. C) make early payments a higher rate. D) carry large balances a higher rate.