Effect of receiving order, Financial Accounting

Effect of receiving order

The consequences of the making of the receiving order are:

  1. The debtor retains ownership, but loses possession and control of his property;
  2. The official receiver becomes receiver of the debtor's property;
  3. No legal proceedings may be brought in respect of provable debts except by leave of the court;
  4. Transactions subsequently entered into by the debtor are prima facie invalid;
  5. The receiving order must be advertised in the gazette;
Posted Date: 12/12/2012 6:15:58 AM | Location : United States

Related Discussions:- Effect of receiving order, Assignment Help, Ask Question on Effect of receiving order, Get Answer, Expert's Help, Effect of receiving order Discussions

Write discussion on Effect of receiving order
Your posts are moderated
Related Questions
Assume that prices and wages adjust rapidly so that the markets for labor, goods, and assets are always in equilibrium. What are the effects of each of the following on real money

Format of the Balance Sheet It shows the financial position of the company as at the end of a given financial period. The standard requires that assets and liabilities should b

Consider two individuals with endowments of 60 hours per week of leisure, nonlabour income of $Y per week, and a wage of $7.50.  At this wage assume that workers are constrained by

petra corporation purchased P4,000 worth of merchandise on account terms 2/10, n?30, FOB shipping point. Prepaid transportation charges of P200 were added to the invoice.

a) The actual risk-free rate is 3%, and inflation is usual to be 2% for the next 2 years. A 2-year Treasury security yields 6.7%. What is the maturity risk premium for the 2-year s

The current balance sheet of CBKH shows $800 million of corporate loans ($500 million of which being rated AA- and the remaining rated BBB+), $200 million of bonds issued by an OEC

What Accounting method (cash or accrual) would you recommend for the following businesses? a. A gift shop with average annual gross receipts of $900,000 b. an accounting partnershi

We consider N identical firms that compete à la Cournot. Each firm incurs a constant marginal cost c. The demand for the homogenous good is given by the following function: Q = 1 -

Review - Accounting service which provides some assurance as to reliability of financial information. In a review, a CERTIFIED PUBLIC ACCOUNTANT (CPA) doesn't conduct an examinatio