According to the terms of Kim's will, specific gifts are made, and taxes and other estate debts are paid. The assets of the estate that remain are most likely to be distributed through

A) a codicil.
B) a type of trust.
C) none of the choices.
D) a residuary clause.

A common method for calculating depreciation expense is to divide the asset's cost by

A) its fair value at date of purchase.
B) its useful life.
C) the accumulated depreciation recorded to date.
D) the actual amount paid for the asset.

A bequest is a gift of personal property or money provided in a will.

Liability for injuries based on proportionate negligence is allowed by most states.

In an output contract, the seller can operate a factory on a 24-hour-a-day schedule and insist that the buyer take all of the output when that buyer had operated only eight hours a day at the time the contract was made and the buyer had knowledge only of the eight-hours-a-day operating schedule.

Whenever a cartel in a duopoly breaks down,​

A) ​both firms obtain higher profits.
B) ​total output in the market will rise.
C) ​price in the market will rise.
D) ​the socially optimal output will be produced.