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Petition by creditor
Any creditor including an assignee of a debt, may petition, provided:
A creditor whose debt is less than Shs 1,000 may petition jointly with other, if the aggregate of the debts is Shs 1,000 or more A secured creditor may only petition in respect of the balance unsecured unless he agrees to surrender his security.
Blue sky Company's 12-31-13 balance sheet reports assets of $5,000,000 and liabilities of $2,000,000. All of the book value's are the same as the market values except for land, whi
Explain:- Q.1 Explain the ways in which the needs of internal and external users of accounting information are the same and different. Q.2 Why is it important for financial sta
Illustration of double entry The balances on the current accounts of a head office and branch were Ksh 698,000, before the transactions listed below: Normal 0
Question A The key functions of financial system are to provide a link between savers and investors. What are the key functions of financial market Question B Describe the me
Illustration of Head office records In order to provide a check that branch managers and staff deal properly with goods and cash passing through their hands, goods are normally
Illustrate the changing face of accounting Over past 25 years, environment within which businesses operate has become increasingly turbulent and competitive. Numerous reasons h
case laws
why good judgement is important when making budgeting decisions
SETTLEMENT OF LIABILITIES Wide powers of compromise are granted to trustees by the Trustee Act. Two or more trustees or a sole trustee, where authorised, may: 1. Pay or allow
Accounting objectives Accounting has two main objectives: To assist control over the assets and liabilities, and the income and expenditure of the enterprise; and To
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