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RESOLUTIONS OF CREDITORS
Normally, decisions at meetings of creditors are taken by ordinary resolution, viz., a resolution passed by a simple majority in value of creditors present, personally or by proxy, and voting on the resolution.A special resolution, viz., a resolution passed by a simple majority in number and three-fourths in value of the creditors present and voting, is required:(a) To appoint a trustee other than the Official Receiver in a small bankruptcy;(b) To make an allowance to the bankrupt in a form other than money;(c) To require the Official Receiver to remove a special manager.
Q. What do you understand by Partnership? Partnership - Relationship between two or more persons based on anoral, written or implied agreement whereby they agree to carry on a
Registration of a D of A and assent of creditors A D of A will be void unless it is registered with the Registrar within 7 clear days after first execution and is properly stam
CAUSES OF FAILURE OF LEGACIES AND GIFTS OF RESIDUE 1) Ademption : If property which has been specifically bequeathed does not belong to the testator at the time of his death,
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
The principle that (1) requires revenue to be recognized at the time it is earned, (2) allows the inflow of assets associated with revenue to be in a form other than cash and (3
basics
Cost of goods sold minus sales
1) A sales discount correctly taken by the charge customer was debited to Sales at the time the entry was recorded. This error will cause. A) the net income for the period to be un
HOW TO CALCULTE GOODWILL FOR CONSOLIDATED STATEMENTS
Order Point Formula The analysis discussed above tends to be somewhat cumbersome when probability distributions are most complex and dependent and multi-period cases are involv
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