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During its financial year ended 30 June 20x7 Beavers Ltd, an engineering company, has worked on several contracts. Information relating to one of them is given below.
Q. Investors advantage from financial intermediation? Investors advantage substantially from financial intermediation because: (a) By investing in a market or bank investors
Deferred tax A company may enter into transactions in the current financial period that may result in the firm either paying or saving some tax in the future. The tax that may be
Exclusions - Income item that is excluded from a taxpayer's gross income by INTERNAL REVENUE CODE or an administrative action. Common exclusions comprise gifts, inheritances and de
CONVERSION INTO A COMPANY The partners may convert their business and trade in form of a company. This may be due to some of the advantages a company has over a partnership. E.g.
In January 2013, Mitzu Co. pays $2,600,000 for a tract of land with two buildings on it. It plans to demolish Building I and build a new store in its place. Building 2 will be a co
Resulting trusts Resulting trusts occur where equity regards the property which is held by a trustee as belonging in equity to the person who transferred it to, or caused it to
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
Four major qualitative characteristics of accounting information There are four major qualitative characteristics which influence usefulness of accounting information. Additio
Cashflows from operating activities operating activities are the principle revenue generating activities of the business and examples of such cashflows include: Cash re
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