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Answer all of the parts in this task. Part (i) is worth a maximum of 6 Marks - 1 Mark each part. Parts (ii) and (iii) are worth a maximum of 2 Marks each.
(i) Describe each of the following business entities:
a) Sole trader
b) Partnership
c) Limited liability company
d) Trust
e) Franchise
f) Agency
(ii) Briefly discuss registering a business name.
(iii) Distinguish between a trademark and copyright in the protection and marketing of a business.
explain the terms recording,classifying,summarizing and communicating
On April 10, ABC inc. Enters in a swap contract for 10 years with a chartered bank to turn a fixed rate on liability of $150 million to floating rate. ABC wants to receive interest
Deferred taxation is caused by timing differences that arise when a transaction is recognized differently for accounting and tax purposes; for i.e, capital expenditure, that invol
On December 1, 2013, Colonel Wilder borrowed $400,000 at 12% interest and pledged $500,000 in accounts receivable as collateral. Additionally, Colonel Wilder was charged a finance
Question: You are a member of a large accounting firm which is responsible for preparing financial reports, including statements and notes to the accounts; and for advising sta
The basic EOQ model is depends on the subsequent assumption: 1) The forecast usage or demand for a specified period, usually one year, is identified 2) The usage/demand is ev
As an expense and an asset This approach tries to resolve the differences between the two methods by ensuring that we show an asset that may materialize or crystallize and at t
SE CTION A QUESTION 1: Below is a trial balance of a manufacturer of boots for the local market. Trial balance as at 31st December 2012 Dr Rs
how to prepare
Describe the following questions:- Q.1 Explain how financial statements assist in the capital allocation process. How are financial statements limited? Which financial statement
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