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Remedies available to beneficiary 1) Injunction - to prevent unauthorised action by trustees; 2) Personal action - a trustee is only liable for his own acts and defaul
Steps in preparing the consolidated balance sheet Step 1 : Prepare the 3 important accounts i.e. cost of control to determine goodwill Group retained profits Mino
A Company policy calls for keeping safety-stock equal to 25% the forecasted demand for that month. The company currently has a work force of 12 people. It takes a worker 3 hours
Realisation of assets 1. Divisible property : The ownership of the company's property does not vest in the liquidator (unless the court makes a vesting order: s.240); but
Income Statement Preparation The following information is taken from the records of Wadley's Car Wash for the year ended December 31, 2012. Income taxes . . . . . . . . . . . . .
Company A(lessee) will rent inventory for you for 3 years rather than buying it for the regular price of $240,000. Normally these units, which cost us $120,000 to produce, will las
Investments under the Trustee Act The act defines the categories of investment as follows: 1. Fixed interest securities are: Securities which under their te
Dietz&Dow Industries (DDI) makes an unexpected takeover bid for Hein & Hillgen Instruments (HHI). DDI offers to pay $50 per share of HHI, which represents a 25% premium over the pr
Fund Accounting - Method of ACCOUNTING and presentation whereby LIABILITIES and ASSETS are grouped according to the purpose for that they are to be used. Normally used by governmen
Thurston Howell IV is the sole heir to the Howell Enterprise fortune. He does not participate in the business, preferring to tend to his comic book collection. He does however own
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