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MUTUAL DEALINGS A right of set-off is allowed where there have been - (a) Mutual credits, debts or other dealings resulting in pecuniary liabilities, (b) Between the debtor an
The rules of intestacy Agricultural land, crops and livestock in certain areas of Kenya are not covered by these rules; they are distributed according to the law or custom of t
Q. Evaluate Price Earnings Ratio? The P/E ratio is in general regarded as an important ratio for equity investors. The P/E for a company may be utilizing as a basis for compari
Accounting policies Accounting policies are the specific assumptions, bases, principles and practices that are adopted by firms in preparing financial statements. The standard
Receiver appointed by court If appointed by the court, the receiver must give security as directed by the court. The following notification must be given: (a) The debenture h
Washington-Pacific invests $2 million to take a tract of land and plant some young pine trees. The trees can be harvested in 13 years, at which time W-P plans to sell the forest at
ACTS OF BANKRUPTCY The following are the acts of bankruptcy on which a petition may be founded: (a) Assignment of property to trustee: whereby one gives up all his proper
On 1 January 2009, a company, Yeti, granted an employee the right to choose between (i) 30,000 Yeti shares or (ii) a cash-payment equivalent to the price of 24,000 Yeti shares on 3
Q. What is Credit Analysis? Potential credit customers must be carefully screened using such methods as bank references, trade references, credit reports from credit reference
Jackson Corporation's bonds have 12 years remaining to maturity. Interest is paid yearly, the bonds have a $1,000 par value, and the coupon interest rate is 10.5%. The bonds have a
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