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Effect of discharge
An order of discharge releases the bankrupt from all disabilities imposed by the bankruptcy (except those which apply for a fixed period after discharge - see paragraph. 6.6 (b) (g), and from all provable debts except:
The order does not release him from liability to prosecution for bankruptcy offenses.Revocation of discharge
The court may revoke or vary the order of discharge in the event of the debtor's failure to assist as required in supplying information or in the realisation of the estate.
Q. Dividends in arrears on cumulative preferred stock a. are shown in stockholders' equity of the balance sheet. b. must be paid before common stockholders can receive a dividend.
Calculation of Profitability ratios - 2008 2009 2010 G Net Sal
Joe Shareholder owns 100 shares of Peach Company stock which is currently selling for $100 per share. Peach declares a 2-1 stock split. How much are Joe's shares worth after the st
Q. What do you mean by Operating Agreement? Operating Agreement - Agreement, generally a written document which sets out the rules by which a LIMITED LIABILITY COMPANY (LLC) is
Acquisition during the financial period The holding company may acquire the subsidiary company partway through the financial period such that as at the balance sheet date, the
Answer the following questions relating to Discounted Cash Flow (DCF) projections and valuations. (a) Michael Hudson asks a rhetorical question (tongue in cheek): "What's not
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Accounts of trustees The trustee must keep proper books of account, which may be inspected by the creditors at any time. The cash book must be audited by the committee of insp
EXPLIN THE PROCEDURE FOLLOWED IN GOVERMENT SYSTEM OF ACCOUNTING IN INDIA.
History of trust The following general information should be kept with the trust documents: Summary of will or trust deed; Short history of the trust; Trustees’ nam
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