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Promissory Note - Evidence of a DEBT with specific amount due and interest rate. Note may specify a maturity date or it may be payable on demand. Promissory note may or may not acc
THE PETITION Petition by debtor : If the debtor presents his own petition, a receiving order is made at once without a court hearing and an adjudication order may also be ma
Foreign Corporation - A corporation that isn't organized under the laws of ones territories or states. Taxing of foreign corporations relies on whether corporation has Nexus or eff
GOODWILL This is defined as “the difference between the value of a business as a whole and the fair value of its net separable assets”. Goodwill in practical sense is the advant
Q. Strengths and Weaknesses of Capital asset pricing model? Strengths - Gives a risk adjusted discount rate precise to the project's activities. - Books of betas are r
On July 1, 2010, Spear Co. issued 1,000 of its 10%, $1,000 bonds at 99 plus accrued interest. The bonds are dated April 1, 2010 and mature on April 1, 2020. Interest is payable sem
APPLICATION FOR GRANT 1) An application for a grant of representation ("representation" means the probate of a will or the grant of letters of administration) is made in such a
Introduction to Pension funds Pension funds are normally set up to provide pension benefits to employees who have retired. The pension funds receive contributions mainly from e
A village ordered supplies for its Fire Department at an estimated cost of $16,700. The supplies were received with an invoice for $16,800. The village accepted the shipment and th
Puts - A put is an option to sell a number of shares of stock at a stated price within a definite period. Gain or loss on a put is short or long term depending on holding period of
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