Why are claims against an estate put into an order of priority? a. To help the executor
Question:
Why are claims against an estate put into an order of priority?
a. To help the executor determine the due date for each claim.
b. To determine which claims are to be paid if funds are insufficient to pay all claims.
c. To assist in determining which specific assets are to be used to satisfy these claims.
d. To list the claims in order of age so that the oldest can be paid first.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 77% (9 reviews)
The correct answer is b To determine which claims are to be paid if funds are insufficient to pay al...View the full answer
Answered By
Santosh Reddy
I have been a tutor for over 10 years. I have experience working with students of all ages, from elementary school to college. I have also tutored students with different learning styles and abilities. I am familiar with a variety of subjects, including math, science, English, history, and Spanish. I am able to adapt my teaching style to meet the needs of each individual student. I am patient and supportive, and I strive to help my students succeed.
I believe that one of the most important aspects of tutoring is the ability to build a rapport with the student. I work to create a positive and supportive learning environment where the student feels comfortable asking questions and seeking help. I also believe that it is important to be flexible and accommodating to the student's needs. I am willing to adjust my schedule and meeting times to ensure that the student is able to get the help they need.
I am confident in my ability to help students improve their grades and succeed in their studies. I have a proven track record of success, and I am committed to helping my students reach their goals. If you are looking for a tutor who is experienced, knowledgeable, and supportive, then please contact me. I would be happy to discuss your needs and how I can help you achieve success.
0.00
0 Reviews
10+ Question Solved
Related Book For
Advanced Accounting
ISBN: 978-1259444951
13th edition
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupni
Question Posted:
Students also viewed these Business questions
-
Determine the due date for the following notes. (Assume there are 28 days inFebruary.) Date of Note Term of Note Due Date August 12 September 1 January 3 90 days 60 120 March 18 88 June 11 May 17 200...
-
Determine the due date for the following notes. (Assume there are 28 days inFebruary.) Date of Note Term of Note Due Date July 11 45 days 90 December 23 April 18 October 3 120 77 180 65 January 1...
-
What claims against an estate have priority?
-
(a) A dice is thrown n times where n is a sufficiently large enough number to provide a uniformly distributed set of results. What would be the conditions for the arrangement of the result set that...
-
Suppose that a class contains 10 boys and 15 girls, and suppose that eight students are to be selected at random from the class without replacement. Let X denote the number of boys that are selected,...
-
The following data were accumulated for use in reconciling the bank account of Wolfpack Bread Inc. for August 20Y9: a. Cash balance according to the companys records at August 31, $6,865. b. Cash...
-
In 2014, Air Asia Flight No. 8501 crashed in the Java Sea while flying from Indonesia to Singapore. The crash resulted in the deaths of all passengers and crew on board. The plane involved in the...
-
Use information on the endpapers of this book to calculate the average density of the Earth. Where does the value fit among those listed in Tables 1.5 and 14.1? Look up the density of a typical...
-
MaxBiotech Inc., a Japanese pharmaceutical manufacturer, has agreed to pay JPY 35.5 billion to Pfizer for the right to use its patent on the coronavirus vaccines. This payment is classified as a...
-
The trial balance for Dick?s Repair Service appears in Figure 4.24 Adjustment Data to Update Trial Balance 1. Insurance expired, $450. 2. Repair supplies on hand, $2,800. 3. Depreciation on repair...
-
How are claims against a decedents estate discovered by an executor? a. Public notice must be printed in an appropriate newspaper to alert all possible claimants. b. The executor waits for nine...
-
Which of the following claims against an estate does not have priority? a. Funeral expenses because the amounts incurred are usually at the discretion of family members. b. Medical expenses...
-
Evaluate the following integrals. do 1+ sin 0
-
Consider simple infix expressions that consist of single-digit operands; the operators +, -, *, %, and/; and parentheses. Assume that unary operators are illegal and that the expression contains no...
-
What are examples of decisiveness abilities during the monthly evaluations?
-
On June 30, a local high school approached Lenova Digital for help. They asked Sarah to visit the school and provide them with advice on which products would be best for their students to use. They...
-
During the year 2021, the company Gases Estrella, SA obtained a net profit of L900,000.00. The paid-in capital consists of 700 common shares and 300 preferred shares that pay 10% dividends. During...
-
The thickness of a plastic film (in mils) on a substrate material is thought to be influenced by the temperature at which the coating is applied. A completely randomized experiment is carried out....
-
An ordinary egg can be approximated as a 5.5-cmdiameter sphere. The egg is initially at a uniform temperature of 8°C and is dropped into boiling water at 97°C. Taking the properties of egg to...
-
Use multiplication or division of power series to find the first three nonzero terms in the Maclaurin series for each function. y = e x2 cos x
-
In a bankruptcy liquidation, what actions does the trustee perform?
-
In a bankruptcy liquidation, what actions does the trustee perform?
-
A trustee for a company that is being liquidated voids a preference transfer. What has happened, and why did the trustee take this action?
-
The following information is available for the Mixing Department of Kappa Corporation during 2023. Beginning Work in Process Inventory: 12,000 units (35% complete direct materials, 25% complete...
-
Question 2 (20 marks) A vertical sag curve 220 m long connects a falling gradient of 5 in 100 and a rising gradient of 3 in 100. The RL and chainage of the gradient intersection point (I) is 90m and...
-
pter 3 Quiz Questo t K question: 1 point(s) possible Submit qui: Pro Tire manufactures tires for all-terrain vehicles. Pro uses job costing and has a perpetual inventory system. On June 22, Pro...
Study smarter with the SolutionInn App