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ACCUMULATION ACCOUNTS FOR MINORS (a) Income accumulations:When property is left in trust for minors, the income earned for the period will be divided equally or according to the terms of the will or trust deed. These shares of income will be credited to the accounts of the infant beneficiaries, usually called Income Accumulation Accounts.
(b) Maintenance payments:Any amounts paid for maintenance (either by the terms of the will or trust deed or under S.33 of the Trustee Act will be debited to the respective Income Accumulations Accounts.
(c) Investment of accumulated income:The income accumulations must be invested from time to time and the investments earmarked as being on Accumulations Account.(d) Distribution to a beneficiary:Before distribution to a beneficiary, the investments will be re-valued and the profits or losses divided between the beneficiaries.
Explain the Transaction Exposure versus Economic Exposure? In brief describe the following term: a) Spot market and forward market. b) Purchasing Power Parity or PPP.
I am an AAT student studying lvl 3 AAT at college. I wish to learn how to complete self assessment end of year tax return forms for other people. That is because I have already bee
RECEIVERSHIPS: APPOINTMENT OF RECEIVER If a company defaults in payment of principal or interest, or otherwise defaults in observing the conditions contained in debentures issu
Write down what processes and data you would analyse when looking at the following scenarios and write down any improvements you could include to ensure that the problem would be l
The concern uppermost in Sonia Burdett's mind at present was how to effectively communicate to the firm's Board of Directors the soundness of her financial policies. Ms. Burdett is
On May 1, 2010, Ziek Corp. declared and issued a 10% common stock dividend. Prior to this dividend, Ziek had 100,000 shares of $1 par value common stock issued and outstanding. The
Potential advantages to BNM Narrative reporting will enable BNM to provide information about social, economic and environmental policies. Many users are influenced by an entit
WHAT IS dEPRECIATION?
methods of stock valuation
Illustration: Dinesh Limited is looking selective control for its inventories. By using the subsequent datas, prepare the ABC plan. Items A B
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