ADVANCED ACCOUNTING
12th Edition
ISBN: 9780357671221
Author: FISCHER
Publisher: CENGAGE L
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Chapter 20, Problem 3UTI
To determine
Concept Introduction:
The gift in terms of amount or quantity assigned to someone in defined proportion for which specific source of payment is not designated is regarded as a general legacy.
To define:The requirement for the separate account of principal estate and income estate. Also, define the action if the assets are inadequate for satisfying a general legacy.
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ADVANCED ACCOUNTING
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