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Defence of trustee 1) He may be relieved from liability if, in the opinion of the court, he acted honestly and reasonably and ought to be excused;
2) He may also be released by any beneficiary, being sui juris and with knowledge of the facts, from liability to that beneficiary only;
3) Lapse of time: an action for breach of trust is statute-barred after six years except when a beneficiary under a disability, such as infancy, when time does not begin to run until the disability ceases: moreover there is no limitation periods where:
Many hospitals are classified as not-for-profit (NFP). The presentation of for-profit (FP) financial statements differs in several respects from NFP accounting. You will probably w
In June 2004, Feltex Carpets Limited raised NZ $254 million in an initial public offering. Twenty seven months later the company was in receivership, its share price having collaps
Consequences of adjudication The consequences of the making of the adjudication order are: 1. The order must be advertised in the gazette and a local paper; 2. The ownershi
Investment with ex. div. quotation Investment with ex. div. quotation will be debited to the investment account at its ex. div. value. The full impending dividend will also
natasha kingrey to calculate present value of salary differential for completing mba
GROUP STRUCTURES A group structure is the relationship between the holding company and its subsidiaries. There are normally four main types of group structures (apart from the
Acquisition of Assets: The cost method of accounting is used for the initial recording of all acquisitions of assets controlled by the authority. Cost is determined as the fair val
The income elasticity of money demand is 2/3. Real income is expected to grow by 4.5% over the next year, and the real interest rate is expected to remain constant over the next ye
Broadway Scripts is a service-type enterprise in the entertainment field, and its manager, Joe Numbers, has only a limited knowledge of accounting. Joe prepared the following balan
The enhancing qualitative characteristic of understand ability means that information should be understood by a those who are experts int eh interpretation of financial information
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