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CONSTRUCTIVE TRUSTS A constructive trust is a trust imposed by equity regardless of the intention of the owner of the property: it arises by operation of law. The concept has
what is the explanation?
Change in profit sharing ratio When there is a change in profit sharing ratio, it means that some of the partners will get higher profits based on the new ratios in the future wh
Q. What is Contractor Ledger? Accounts relating to contractors should be kept as personal accounts in contractor's ledger and a separate folio should be opened in the Contracto
Investment with cum.div. Quotation Investment with cum.div. Quotation will be debited to the investment account at its full value. When the dividend is subsequently received it
Format of the Balance Sheet It shows the financial position of the company as at the end of a given financial period. The standard requires that assets and liabilities should b
QUESTION 1: P A RT A You are given with the following information relating to Rooney PLC . The accountant is currently developing the budget for the next three mo
Are revenue and expense accounts permanent accounts and should not be closed at the end of the accounting period?
Q. Evaluation of Net working capital? The evaluation presumes that several key variables will remain constant such as the inflation rates, discount rate and the taxation rate.
Find the current value of the following ordinary annuities. (Notes: If you are using a financial calculator, you can enter the known values and then press the appropriate key to se
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