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Objectives of Inventory management After going through this section, you will be capable to: highlight the requirement for and nature of inventory; describe the meth
VESTING OF PROPERTY IN TRUSTEES The settlor must transfer the property to the original trustees in the proper legal manner. Similar transfers must be made on a change of truste
worked example for Professional examinations
Uniform Accountancy Act (UAA) - UAA is the proposal for a new regulatory framework for the public accounting profession that was developed jointly by the American Institute of Cer
Q. Which one of the following is not necessary in order for a corporation to pay a cash dividend? a. Adequate cash b. Approval of stockholders c. Declaration of dividends by the bo
a) DELL computers sell 100 PCs at Rs.42,000. The variable expenses amount to Rs.28,000 per PC. The total fixed expenses is Rs.14,00,000. Prepare an income statement. b.) Ca
A gift of residue Where property is not given by a specific legacy nor by a general legacy, it makes up the residue of the testator's estate. If the testator fails to make a g
Evaluating the investment using return on capital employed: Annual depreciation charge = 1500000/5 = $300000 Average investment = 1500000/2 = $750000 Average annual
Calculation of Profitability ratios - 2008 2009 2010 G Net Sal
Illustration of maximum possible loss method A, B and C have been partners for several years, sharing profits and losses in the ratio 2:2:1. They decided to dissolve the firm o
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