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Cumulative and substitutional legacies and devises
Where a will makes two gifts of unequal amounts to the same person, they are assumed, in the absence of a contrary indication, to be cumulative. Where a will makes two gifts of equal amount to the same person, the presumption is that the second was in substitution for the first, unless evidence to the contrary is shown. If two clauses of a will are irreconcilable, so that they cannot stand together, the last shall prevail. Obvious clerical errors can be corrected.
RECOMENDATION REGARDING THE CURRENT SOUTH AFRICAN VAT SYSTEM
RIGHTS AND DUTIES OF TRUSTEE The rights and duties of trustee are as follows: Powers of trustee: Sell and transfer any part of the bankrupt's property;Carry on the busines
what are five modern financialaccounting techniques
Liquidity Ratios - These ratios include the Current Ratio and the Quick Ratio or the acid test ratio. Liquidity ratios show the Liquid position of a company in the short term i.e
a. Conversion cost was 140,000 and was four times the prime cost b. Direct materials used in production equaled 5,000 c. Cost of goods manufactured was 154,000 d. Ending work in pr
Real Estate Mortgage Investment Conduit (REMIC) - An entity which holds a fixed pool of mortgages and issues multiple classes of interest in itself to investors. A qualified REMIC
IAS 1 contents of financial statements IAS 1 prescribes the contents of published financial statements. The major reports that are included as part of the published financial sta
In this method the minimum and maximum level for all items of inventory are fixed. These levels function as an origin for initiating action so that the quantity of all items is con
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What are some critics by individuals and professional bodies in this joint project?
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