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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.
Number of Periods of a one Payment a) If you deposit money today in an account that pays 7.5% yearly interest, how long will it take to double your money? b) What's the future
In this type of system store balances are recorded and computed after all receipt and issue. The main focus of this system is to make obtainable details regarding the quantity and
Pooling of Interest - Used to account for acquisition of another company when acquiring company exchanges its voting COMMON STOCK for voting common stock of the attained company wh
Explain the movements in working capital in terms of a business''s cash cycle. Explain some of the options available and their effect on the cash cycle.
Illustration for company conversion Kamau Maneno and Rotino have carried on partnership for several years, sharing profits and losses equally after allowing for annual salaries
Harry purchased equipment for his business and gave the seller cash and a note due in two years. Larry also purchased business equipment, but financed the transaction with a bank l
How can a person tell whether an entry to an expense account is payment for a legitimate expenditure or a means of concealing a theft of cash?
During 2014, Victoria’s Fashion had beginning inventory of $480,000, ending inventory of $560,000, and cost of goods sold of $2,200,000. Compute the inventory turnover and days’ in
in bank reconciliation statement what are the statement to be reconcile
Q. Estimate cost of equity using market values? The cost of equity as well as cost of debt should always be estimated using market values. If the approximate cash flows of a
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