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Powers of investment 1. Shares and debentures: A trustee may:
2. Not more than one-eighth of the value of trust fund or Shs.10,000, whichever is the greater, shall be invested in the securities of any one company or unit trust.
3. Mortgages: These are authorised under the Trustee Act if given in respect of freehold land or leasehold land with at least 40 years unexpiered; the trustee may lend up to two-thirds the value of the land as assessed by a competent surveyor or valuer.
4. Retention of securities: A trustee is not liable simply for retaining an investment which has cease to be authorised; but he must review periodically – with advice – wider range.
Piecemeal Realizations and Distributions Partnership dissolutions may take a substantial number of days even months) so it is unlikely that all cash generated will be simultane
Q. Net present value evaluation of proposed investment? WORKINGS Fixed costs = 4·50 × 100000 = $450000 per year Annual writing down allowance = 3000000/10 = $300000
Q. Define Strong form efficiency? In robustly efficient market finance directors will be alert to the fact that market prices are an accurate reflection of their company's fina
Describe the following questions:- Q.1 Explain how financial statements assist in the capital allocation process. How are financial statements limited? Which financial statement
AMALGAMATIONS Two sole traders and a partnership,two or more partnerships or a sole trader and other partnerships may combine or join together to forma a single partnership. The
The matching rule is applied a. because it is required by the Internal revenue Code b. by expensing certain items immediately and in their entirety c. to help make the bookkeeper's
Defunct Companies A company may be dissolved under s.338 without winding up if the registrar has reasonable cause to believe it is defunct: The procedure is: a. Registrar writ
WHAT IS PPE?
You have just started work for Warren Co. as part of the controller's group involved in current financial reporting problems. Jane Henshaw, controller for Warren, is interested in
equity share capital rs 10 200 10% preference share capital 80 15% debenture 20 profit before interest and taxes 60 proposed dividend 20 provision fo
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