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DUTIES OF TRUSTEES1) Not to profit from the trust:A trustee may not receive remuneration except: By order of the court, if the trust is very onerous or the services of the trustee very valuable; Under authority in the trust instrument. 2) To keep and audit accounts: Trustees must keep accounts and produce them to any beneficiary together with all reasonable information as to the financial position of the trust. The trustee may have the accounts audited by an independent accountant, but not more than once every three years, unless the nature of the trust makes more frequent audits reasonable S.23.
3) To observe terms of trust: Trustees must comply with the trust instrument and the rules of equity; they need not consult the beneficiaries or take instructions from them; but they may not depart from the terms of the trust unless authorised by the court
Calculate the present value and determine the npv, Financial Management. Assume today is 3 December 2009. Helen is 30 years old and has a Bachelor of Business. She is currently em
How would the following errors affect the account balances and the basic accounting equation: assets = liabilities + owners' equity? How do the misstatements affect income? 1. The
You may just be wondering as to see that how we control activities by ratios. The answer is not tough to seek. Ratios we have known for control of activities measures relationships
Perform a business size-up of Sugar and Spice Bakery. 2. Qualitatively analyze the opportunity of closing the storefront to cater events.
A parent has had a controlling interest of 60% in its subsidiary for a number of years. Below are financial statement extracts of the two companies for the year ended 30 June 20
Financial Accounting An accounting technique that records, interprets, and reports the historical cost transaction of an organization. An organization records these transaction
Fund accounting and preparation of financial statements) The scenario: At the start of the year beginning January 1, 2013, Coco City's General Fund had a cash balance of $40,000, v
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Q. Principles of banking and finance? An introduction to the principles of banking and finance. It covers a broad variety of topics using an economic perspective and aims to gi
Admission of a new partner When a new partner joins the firm/partnership, the new partner will enjoy the benefits arising as a result of goodwill created by the old existing pa
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