ADDE COMBINATION MOCK 3: busy compiling

After the estate is finalised, a 5 year fixed deposit of R50 000 is identified as an estate asset.

Choose the correct statement.

There is no need to advise the Master of the High Court as the estate has been finalized
The amount should be simply distributed to the residual heirs
A second and final account dealing with the asset should be lodged with the Master of the High Court
The executor should deal with the asset and lodge a supplementary account with the Master of the High Court
None of the above
All of the above