Property received as a result of the will of the deceased person is called ........

General Accounting Principles Not for profit organisation

Property received as a result of the will of the deceased person is called

Legacy

Honorarium

Donation

Subscripton

- Legacy:

- Property or money left to someone in a will is referred to as a legacy.

- It is the correct term used when a deceased person bequeaths property to another.

- Honorarium:

- A payment given for services that are voluntarily rendered and for which payment is not legally required.

- Often used for services provided by professionals, such as a guest speaker.

- Donation:

- A gift given voluntarily to help a cause, typically in the form of money or goods.

- Usually not associated with a will or inheritance.

- Subscription:

- A payment or agreement to receive a product or service regularly.

- Unrelated to wills or inheritance.

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