FRANK AND HILARY MOCK 2: 10 QUESTIONS 45 MINUTES

The residue in cash,  which is awarded to Gary Lank amounts to:

Select the correct amount:

The recapitulation statement.

The cash amounts reflected in the recapitulation statement, include the following:

a.    Life insurance    R1 000 000

b.    Share on the JSE    R 212 000

c.    Members interest    R1 700 000

d.    Life insurance to owner    R2 000 000

e.    Members interest      R1 900 000

f.    Shares on the JSE    R214 000

Select the right statement:

The awards reflected and noted in the recapitulation statement are Gen for R1 000 000 and 4PAWS for R250 000.

Are these amounts and awards correct.

There is a cash surplus which is reflected in the recapitulation statement which amounts to:

The movable property that was not turned into cash is:

a.    Members interest        R1 700 000

b.    Members interest        R1 900 000

c.    Shares on the JSE        R212 000

d.    Shares in the JSE        R214 000

Select the correct statement

The amount, which forms part of residue, which is awarded to Gary Lank in terms of his will is:

Select the correct statement

The master fees that are applicable in  Frank’s deceased estate amount to:

Excluding the administration costs, the claims against the deceased estate amount to: 

Funeral expenses is a cost under Administration Costs and not a claim against the deceased estate.

Is this statement true or false

The amount that is available for distribution and reflected in the Distribution account is