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EXECUTORSHIP
Executorship is the body of statute law, case law and practice concerning the management of the estate of a deceased person. In what follows, we shall express the law as applying to a masculine person, but it applies equally to women, whether married or not.
When a person dies, he dies:-(a) TESTATE — he leaves a valid will, which disposes of all his free property (i.e the property of which he was legally competent to dispose during his lifetime, and in respect of which his interest does not terminate by his death) OR (b) INTESTATE — he does not leave a valid will, or the will does not dispose of all his free property.Since the vast majority of people in Kenya die intestate i.e. without leaving a will, we will deal with this situation first.
How Accounting objectives can be achieved There are two main ways by which this can be achieved: All the accounting records are maintained at the head office; or Each
in bank reconciliation statement what are the statement to be reconcile
Oswald Corporation reported the following information on operations for 2009: Revenue = $2,000 Cost of goods sold = $850 Operating expenses =$395 Depreciation =$248
Q. Redemption of debt? Equity finance is permanent capital that doesn't need to be redeemed while debt finance will need to be redeemed at some future date. Redeeming a huge am
DISSOLUTIONS A partnership may be dissolved due to various reasons which include: Poor trading that has led to losses A partner dying or leaving the firm The time
Presented below are four independent situations which you as a Manager Trainee employed with Your Company have been asked to evaluate. Evaluate each situation based on what each re
Q. Estimate the systematic risk of the new investment? The beta of the comparator company will be utilized to estimate the systematic risk of the new investment. No un-gearing
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1.Which of the following is true? A. Land is depreciated using the straight line depreciation method B. Land is amortized using the declining balance method C. Land is depleted usi
Return on Investment (ROI) - Ratio measure of the profits achieved by a firm by its fundamental operations. An indicator of management's general efficiency andeffectiveness. The si
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